Lukoil signs loan deal to buy distributor
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Hurriyet Daily News
Oluşturulma Tarihi: Kasım 25, 2008 00:00
ISTANBUL - Lukoil, Russia's second-largest oil producer, has signed a $530 million syndicated loan to back the acquisition of Turkish fuel distributor Akpet, banking sources close to the deal said Friday.
Haberin Devamı
The loan, which launched to syndication in September, originally totaled $610 million but was subsequently reduced because of difficult market conditions, according to Reuters.
In addition the margin was increased and the deal now pays a margin of 3.25 percent over Libor, or London Interbank Offered Rate, one of the bankers said. When the loan launched, it was split between a three-year tranche that paid 1.25 percent over Libor and a five-year tranche that paid 1.5 percent. The arranging banks are Bank of Tokyo-Mitsubishi UFJ, Barclays, Dresdner Kleinwort, ING, Royal Bank of Scotland and WestLB.