Naftogaz fully repays $300 mln EBRD loan

17:41, 20.05.2016 1 min read

NJSC Naftogaz Ukrainy has fully repaid principal and interest on a $300 million revolving loan from the European Bank for Reconstruction and Development (EBRD), the press service of the company has said.

"Principal and interest on the loan have been paid on time and in full. The renewable credit facility is valid until 2018. Naftogaz plans to use the funds for gas injection in the next two heating seasons," reads the report.

As reported, Naftogaz Ukrainy and the EBRD signed a credit agreement for $300 million in October 2015. The funds were intended for gas purchases in the EU. Using credit funds, about 1.7 billion cubic meters of gas at an average price of $193 per 1,000 cubic meters (at the delivery point) was bought. The suppliers were Noble Clean Fuels Limited, Engie SA, Axpo Trading AG, E.ON Global Commodities SE and Eni trading&shipping S.p.A.