OREANDA-NEWS. On 9 July 2013 Klaipedos Nafta AB (hereinafter, the “Company”) has concluded the Credit Agreement (hereinafter, the “Agreement”) with the European Investment Bank (hereinafter, the “EIB”) regarding granting a credit of up to EUR 87 million for the implementation of the project of the liquefied natural gas terminal (hereinafter, the “Project”). Under the Agreement the EIB will finance up to 50% of the Project implementation costs.

According to the Agreement, the term of the credit is up to 20 years, interest: floating or fixed, which particular rate will be provided in the European Investment Bank's disbursement offer. The Agreement also provides that the minimal payable amount of credit is EUR 15 million, and all the credit amount must be paid to the Company in no more than 6 payments. 100% of the Company's financial obligations under the Agreement shall be secured by a State guarantee.

Other material provisions of the Agreement and the Company's obligations thereunder are provided in the Company's notification on material event of 2 July 2013.