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Gazprom signs agreement with Credit Agricole on €700 million borrowing

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Gazprom signs agreement with Credit Agricole on €700 million borrowing

Gazprom, a Russian gas giant, signed an agreement with Credit Agricole Corporate & Investment Bank (Credit Agricole CIB), a French bank, on raising a loan of €700 million, the message released by the gas holding says.

The period of use of the loan funds amounts to 5 years.

Earlier, the transaction on attraction of the credit was approved by the Board of Directors of Gazprom.

Credit Agricole Corporate & Investment Bank is the corporate and investment banking branch of Credit Agricole Group, which is Europe’s second largest in terms of Tier I capital with assets of more than €1.7 trillion. The group is represented in 52 countries.

Gazprom has been cooperating with Credit Agricole since 1995, the group participated in many transactions to raise corporate and project financing by the company.

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