Gazprom Neft Negotiates to Attract $1 Billion

Gazprom Neft is nagotiating with foreign banks to attract $ 1 billion, Dow Jones reported.

Among the participants in the talks, according to sources, the banks Societe Generale SA, Natixis SA and Bank of Tokyo Mitsubishi.

This is a secured pre-export financing for five years with two-year grace period of credit. Credit is given under orders from foreign buyers to finance the exporter of mining and oil. This is one of the safest forms of lending for banks, says Dow Jones.