Gazprom $2.5 billion eight-year syndicated loan: Dresdner Bank
The Russian gas company’s debut international loan was seen one of the most challenging ever by a borrower in the syndicated loan market. The size and maturity surpassed any previous Russian financing. The pricing at just 2% above Libor reflected the high regard in which Gazprom is held. Gazprom now has earned the unofficial title of “Russia’s most bankable company” and the loan has redefined what other Russian companies can expect from the market.
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