OREANDA-NEWS. December 27, 2011. NК "Russneft"  refunanced a part of its debt at the rate of LIBOR + 4.5% per annum,  under the loan of ZAO “UniCreditBank”, a member of the italian group “UniCredit”.  An agreement to that effect was signed in the beginning of 2011, as the Senior Vice President for Economics and Finance of OAO NK “RussNeft” Olga Prozorovskaya confirmed.

The signed loan agreement demonstrates strengthening of financial standing of OAO NK “RussNeft” and determines the interest rate guide for potential creditors of the holding.

On the whole, in 2011 the Company, due to consistent and accurate fulfillment of the undertaken financial obligations, reduced the amount of the indebtedness by 15% - from USD  6, 208 billion USD  5, 061billion.

Gradual reduction of the interest burden will enable OAO NK “RussNeft” to assign the released funds to implementation of investment projects – mainly, builbing up of hydrocarbon stock production, exploration and gas projects development.