BELARUS NEWS AND ANALYSIS

DATE:

10/11/2006

Belgazprombank extends, increases syndicated credit

MOSCOW. Nov 10 (Interfax) - Belgazprombank (Belarus) has extended a syndicated credit by one year and increased it by $15 million to $20.8 million, and reduced the interest rate from LIBOR/EURIBOR+4.45% to LIBOR/EURIBOR+3.65% per year, Gazprombank, the organizer of the deal, said in a statement.

The credit was provided in two tranches in dollars and euros, with the dollar tranche amounting to $7 million and the euro tranche - the equivalent of $13.8 million.

This debut credit for Belgazprombank was received in November 2005 for one year.

In September 2006 Belgazprombank attracted another one-year syndicated credit of $14 million and 5 million euros at LIBOR+3.75% per year, organized by Gazprombank and Moscow Narodny Bank.

Gazprom (RTS: GAZP) and Gazprombank own 67.82% of Belgazprombank.

Belgazprombank was in 269th place in the Interfax-1000 rating of CIS banks in 2005, and in 30th place among 30 Belarussian commercial banks.

Source:

http://www.interfax.com/3/211532/news.aspx

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