BarCap closes syndication of Gazprom L/C
Barclays Capital closed general syndication of a $148m one year debut syndicated loan for Gazprom Marketing and Trading on Monday. GM&T will use the deal to provide letters of credit to liquefied natural gas infrastructure facilities in Mexico and California, which may receive LNG from Sakhalin.
“It’s nice to bring a new issuer to the market, put in place a new money transaction and get very strong support and a significant oversubscription,” said a banker on the deal. “It’s a positive sign for the market.”
Eight banks, including BarCap, joined the deal, which was signed
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