April 26, 2012
A Group Of Banks Extends Credit Facilities To Antipinsky Oil Refinery CJSC Amounting Up To USD 750 Million.
Gazprombank Open Joint-Stock Company, Raiffeisen Bank International AG, and Raiffeisenbank CJSC jointly with Glencore International AG, Vitol S.A., Globexbank CJSC, and WestLB AG (London) have signed a multi-currency facility agreement for the extension of term and revolving credit lines for an overall amount of USD 750,000,000 to Antipinsky Oil Refinery CJSC. This fact is stated in the information released by Raiffeisenbank.
The credit repayable in March 2017 consists of 3 tranches, term loans and a revolving facility, in USD and Russian rubles, secured with a collateral in the form of pre-export and project financing components. The purpose of the credit lending is to partly refund current loans and borrow additional financial resources for further development of the refinery. Partial syndication of the credit is expected after the beginning of the credit drawdown.
Antipinsky Oil Refinery CJSC founded in 2004 is an oil refinery of a medium size engaged in the processing of crude oil in the Tyumen Region. The first industrial complex of Antipinsky Oil Refinery CJSC with the refining capacity of 400 thousand tons of oil p.a. maximum was built and commissioned in 2006. The first extension of the enterprise (the 1st Phase of Antipinsky Oil Refinery) took place in the period of 2006-2007 in order to swell the production capacity from its initial indicator to 740 thousand tons of oil products per year. In May 2010 the second phase of the enterprise with the capacity of up to 2.8 million tons of oil products per year was put into operation. Nowadays the total production capacity makes up 3.58 million tons p.a. The company plans to swell the refining capacity by the year 2013 up to 7 million tons. By 2015 it intends to increase the processing depth up to 94%, subsequently changing over to the production of Euro-5 fuel standard. The volume of investment in the project is planned to be at the level of USD 2 billion for the period from 2010 to 2015. Transneft JSC has issued Technical Specifications for connecting Antipinsky Oil Refinery CJSC to oil trunk pipelines with the total volume of 6 million tons of oil per year considering the development of the enterprise including the third construction phase of the refinery.RosBusinessConsalting News Agency