PGNiG secures $400 mln financing
16:07
Natural gas group PGNiG Upstram International signed a deal for a $400 mln loan with a consortium of eight banks, PGNiG said on its website.
The consortium comprises Societe Generale, BNP Paribas, ING, HSBC, Citibank, CACIB, SEB and Natixis lenders. The funds will be allocated mainly to the early repayment of "a significant part" of the existing debt of PGNiG Upstream International, including the entire debt taken in connection with the purchase of assets from Total E&P Norge back in 2014, the statement read.
The loan is renewable and granted for seven years.
