OREANDA-NEWS. In Kazan, Vagit Alekperov, President of OAO LUKOIL, and Jean Lemierre, President of the European Bank for Reconstruction and Development, signed an unsecured US$ 300 million loan agreement to finance the LUKOIL Group’s Environmental Safety Program for 2004-2008.

The syndicated loan consists of two tranches, US$ 150 mln each. The first tranche is provided by the European Bank for Reconstruction and Development at Libor +0,65% per annum for 10 years (A Tranche). The second tranche is provided by the commercial bank group at Libor +0,45% per annum for 7 years (B Tranche).

CALYON Bank is lead arranger and book runner of the B Tranche.

The attracted loan will be for the main part used for environmental purposes of OOO LUKOIL-Komi, OOO LUKOIL-Perm, OOO LUKOIL-Zapadnaya Sibir, OOO LUKOIL-Permnefteorgsintez, OOO LUKOIL-Nizhegorodnefteorgsintez and OOO LUKOIL-Volgogradneftepererabotka.