Novatek hits rich reserves for club loan

Russian gas firm Novatek has signed its loan at $1.5bn — $500m more than the launch amount, as emerging market lenders continue to pile into deals to try to make up for the low volumes available.

  • By Michael Turner
  • 18 Jun 2013

Novatek arranged the club deal itself, while Barclays co-ordinated the banking group. Bank of America, Bank of Tokyo-Mitsubishi, Crédit Agricole, Mizuho, Nordea, RBI, Royal Bank of Scotland, Sumitomo Mitsui Banking Corp, Société Générale and Rosbank joined the deal.

The loan, which signed late last week, has a five year tenor. ...

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3 Morgan Stanley 11.73
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