Gazprom Borrows €2bn from China

Russian export monopoly Gazprom has signed a €2bn loan agreement with Bank of China, repayable over five years, it said March 3 in a London Stock Exchange announcement.

The borrower was represented by deputy management committee chairman Andrei Kruglov and the lender by the deputy general manager Wang Huabin.

For Gazprom this is the largest deal in terms of the amount of financing attracted directly from one financial institution and the first bilateral loan facility agreement with a Chinese bank, it said. 

Kruglov and Gao Yingxin, the bank's executive vice-president, also discussed the prospects for deeper cooperation between Gazprom and Bank of China, the statement said.

William Powell