OREANDA-NEWS. April 27, 2011. Raiffeisenbank and subsidiary Eurasia Drilling Company Limited have signed an agreement according to which the bank has provided a USD 220 mln facility to the company, reported the press-centre of Raiffeisenbank.

This five-year facility bears a 5.65% interest, with no principal repayments during the first two years.

"Financing of oil companies is one of the priority lines of the Bank’s activities," comments Oxana Panchenko, member of ZAO Raiffeisenbank’s management board and head of corporate banking and corporate financing directorate. "We realize the increasing significance of presence in the segment of commercial lending, and we are convinced that we can offer competitive terms. We hope this facility will allow the company to meet its targets effectively and to achieve the planned financial results".