OREANDA-NEWS. Sberbank CIB has organised a guaranteed revolving line of credit2 worth RUB 90 bln for OAO LUKOIL until 30.04.2018

If funds are withdrawn they will be used to finance the activity of OAO LUKOIL carried out in accordance with its Charter, with the exception of using the funds to either directly or indirectly repay the debts of OAO LUKOIL and/or other companies of the LUKOIL Group, which are accounted for in OAO LUKOIL's consolidated reporting, to Sberbank of Russia, or to acquire promissory notes of third parties.

The agreement for this line of credit replaces an existing agreement between Sberbank of Russia and LUKOIL INVESTMENTS CYPRUS LTD on the provision of a guaranteed line of credit worth USD 1.0 bln.