OREANDA-NEWS. August 22, 2011. ITERA Oil and Gas Company raised a five-year USD 325 million syndicated loan to refinance its current credit portfolio, reported the press-centre of ITERA.

The syndicate members are Deutsche Bank AG, OJSC Gazprom, Reiffeisen Bank and UniCredit Bank. Deutsche Bank Luxembourg S.A. acts as a paying agent and a loan security agent. The Loan Agreement envisions a possibility of subsequent circulation of the loan on the secondary debt market. The parties’ relations under the Loan Agreement shall be governed by the English law.

The loan interest rate is set at 4.5%+LIBOR3М which makes 4.8 per cent per annum for the first interest period.

The successful provision of the syndicated loan in conditions of instability on the international financial markets testifies to a high credit quality of ITERA Oil and Gas Company.