Tatneft announces new USD2 bln financing and prepayment of the TANECO facility

The 2010 Facility is structured as a self-arranged club deal and was substantially oversubscribed. The Facility is split among three tranches - 3, 5 and 7 years with margins of LIBOR plus 3.10%, 4.10% and 5%, respectively. The 2010 Facility was arranged by BARCLAYS CAPITAL THE INVESTMENT BANKING DIVISION OF BARCLAYS BANK PLC, BNP PARIBAS (SUISSE) SA, JOINT STOCK COMMERCIAL BANK "BANK OF MOSCOW" (OPEN JOINT STOCK COMPANY), THE BANK OF TOKYO MITSUBISHI UFJ, LTD., CITIBANK, N.A., COMMERZBANK AKTIENGESELLSCHAFT, ING BANK N.V., NATIXIS SA, OPEN JOINT STOCK COMPANY NORDEA BANK, THE ROYAL BANK OF SCOTLAND N.V. (LONDON BRANCH), SBERBANK (SAVINGS BANK OF THE RUSSIAN FEDERATION), SOCIETE GENERALE, SUMITOMO MITSUI FINANCE DUBLIN LIMITED, UNICREDIT BANK AG, ZAO UNICREDIT BANK, VTB BANK (AUSTRIA) AG, VTB BANK (DEUTSCHLAND) AG AND WESTLB AG, LONDON BRANCH. UNICREDIT BANK AG acted as Facility Agent and Security Agent and WESTLB AG acted as Documentation Agent.
It is also announced that today OJSC TANECO, a subsidiary of the Company, has successfully prepaid in full the USD2 bln bridge construction loan (the "TANECO Facility"). The TANECO Facility was obtained in 2007 to finance construction of the Nizhnekamsk Refining and Petrochemical Complex in Tatarstan, operated by OJSC TANECO.
Allen & Overy LLP acted as legal advisor to the lenders, Cleary, Gottlieb, Steen and Hamilton LLP advised OAO Tatneft.