On February 25th RussNeft shareholders to discuss several transaction including the one with Sberbank
On February 25th 2011 RussNeft's shareholders will discuss several transaction including the one with Sberbank for the closing of supplementary agreements to the earlier signed security agreements. The shareholders registry for participation is closed on February 3rd.
At the beginning of January they reported that RussNeft signed the amendments to the clauses of the credit agreements with its majority creditors which Sberbank owning 2% in the company and Glencore International AG. The total volume of the debt restructured under the document is over $6.2 billion. The payment period is prolonged to 2020. The rate is set on par for both creditors and is lowered to 9% per annum.
Translated by Nadezhda Poltoratskaya
Source: http://www.oilcapital.ru/news/2011/02/080923_163755.shtml
