Sberbank of Russia opens Hr 465 million credit line to Chornomornaftogaz
The cost of servicing the credit line opened for one year is Hr 73.935 million (excluding VAT), the interest rate is set at 15.65% per annum.
The cost of servicing the credit line in U.S. dollars is $5.249 million, the interest rate is 8.75% per annum.
The purpose of the multi-currency credit line is to replenish working capital and refinance loan debts.
Chornomornaftogaz is developing the Ukrainian shelves of the Black and Azov seas.
The company extracts hydrocarbons in Crimea, exploits the Hlibovske underground gas storage facility in the peninsula and operates its pipelines.
National joint-stock company Naftogaz Ukrainy controls a 100% stake in the company.
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