Nord Stream 2 to be granted €6,65 bridge loan

Nord Stream 2 to be granted €6,65 bridge loan
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Gazprom and its European partners will provide a three-year bridge loan totaling up to €6,65 billion for construction of Nord Stream 2.

The loan will be granted to the Nord Stream 2 operator. The agreement was signed on the 30th of April, the period of its validity lasts until the end of 2019. The loan interest rate amounts to 6%, the agent for the loan is Glas Trust Corporation Ltd.

This is an intermediate credit and it will be granted before Nord Stream 2 AG will be able to attract project financing, as it follows from Gazprom’s statement.

Nord Stream 2 AG intends to build a pipeline with the length of 1,200 km across the Baltic Sea to the German city of Greifswald, in order to minimize gas pumping through Ukraine.