Lukoil's Bulgarian Refinery Gets 420 mln Euro Loan for Upgrades

Posted: Friday, January 3, 2014

Bulgarian oil refinery Lukoil Neftochim Burgas, a subsidiary of Russian oil company Lukoil, has received a 420 million euro ($576 million) credit line from several European banks to finance upgrades, Italy's export credit agency said on Thursday.

The ten-year loan, which will be 95% covered by the Italian agency, SACE, was provided by Societe Generale, acting as global coordinator, mandated lead arranger (MLA) and lender, BNP Paribas, acting as facility agent, MLA and lender, ING Bank, acting as environmental agent, MLA and lender, UniCredit Group acting through UniCredit Bank Austria acting as MLA and lender and UniCredit SpA acting as MLA and SACE agent, the agency said in a statement.

The Bulgarian refinery is being upgraded under a lump sum turnkey contract that it has concluded with Paris-based oil and gas engineering services supplier Technip, it added.

Source: SeeNews