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Novatek 'seeking $1bn loan'



By Upstream staff 

Russia's largest independent gas producer Novatek plans to raise up to $1 billion via a syndicated loan to fund organic growth and acquisitions, reports said today.

A banking source told Reuters on Tuesday: "The company is considering raising the money for operational activities and mergers and acquisitions."

Novatek, in which state-controlled gas export monopoly Gazprom has around 19%, has paid off almost all its debts in the past few years.

The loan would be its largest to date


Tuesday, 15 January, 2008, 13:05 GMT  | last updated: Tuesday, 15 January, 2008, 13:05 GMT

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