4 June – LAWFUEL – The Law News Network – Allen & Overy Moscow acted for ABN AMRO BANK N.V. on a $972 million unsecured syndicated facility for JSC Gazprom, Russia’s largest ever unsecured loan. The syndication of the facility was completed on 27 May 2005. The loan is available in two tranches with respective maturities of three and five years. Loan proceeds are to be used by JSC Gazprom to refinance its existing indebtedness.
JSC Gazprom is the largest gas-producing company in the world. Its share in worldwide gas production is about 20%. The company is responsible for 8% of Russia’s GDP.
Irina Mashlenko, who led Allen & Overy’s team on the deal comments: “This transaction emphasises the positive economic and political development in Russia and demonstrates a high degree of reliance placed by foreign investors on major Russian companies.”
The team was led by Irina Mashlenko (partner), assisted by Grant Williams (senior associate) and Elena Konchits (associate).