NK Rosneft' OAO Raises $2 Billion Long-Term Loan from China Development Bank-Interfax
Interfax reported that NK Rosneft' OAO (Rosneft) has raised a long-term loan of $2 billion from China Development Bank. The loan documentation has been finalized under the basic loan agreement, concluded in March 2013. The loan is secured under the existing oil delivery contract that Rosneft and China National Petroleum Corporation (CNPC) concluded in 2009. The loan, which matures in May 2029, will be fully disbursed by the end of June 2013. VTB is the agent bank.
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