1. Agreement Signed On Extending Multi-Currency Term And Revolving Credit Facilities Up To USD 750,000,000 for Antipinsky Oil Refinery CJSC.

Agreement Signed On Extending Multi-Currency Term And Revolving Credit Facilities Up To USD 750,000,000 for Antipinsky Oil Refinery CJSC.

26 April 2012

Gazprombank (Open Joint-Stock Company), Raiffeisen Bank International AG and Raiffeisenbank CJSC (the “Authorized Lead Arrangers”) jointly with Glencore International AG, Vitol S.A., GLOBEXBANK CJSC, and WestLB AG (London) (“Authorized Arrangers”) are pleased to inform you about the signature of a multi-currency facility agreement for the extension of term and revolving credit lines at the amount of up to USD 750,000,000 for Antipinsky Oil Refinery CJSC (hereinafter referred to as “Antipinsky Oil Refinery” or “the Company”) situated in the Tyumen Region of the Russian Federation (“the Credit”). 

The Credit repayable in March 2017 consists of 3 tranches, term loans and a revolving facility, in USD and Russian rubles, secured with a collateral in the form of pre-export and project financing components. The purpose of the Credit lending is to partly refund current loans and borrow additional financial resources for further development of the Refinery. Partial syndication of the Credit is expected after the beginning of the credit drawdown.

Photographs (at the ceremony dedicated to the opening of the 2nd workflow phase of the enterprise): Governor Nikolayevich Kobylkin of the Yamal-Nenets Autonomous Area Dmitry, Governor Natalia Vladimirovna Komarova of the Yugra - Khanty-Mansi Autonomous Area, Governor Vladimir Vladimirovich Yakushev of the Tyumen Region, Chairman of the Board of Directors of Antipinsky Oil Refinery CJSC Dmitry Petrovich Mazurov.

Antipinsky Oil Refinery CJSC founded in 2004 is a rapidly developing oil refinery of a medium size engaged in the processing of crude oil in the Tyumen Region. The first industrial complex of Antipinsky Oil Refinery with the refining capacity of 400 thousand tons of oil p.a. maximum was built and commissioned in 2006. The first extension of the enterprise (the 1st Phase of Antipinsky Oil Refinery) took place in the period of 2006-2007 in order to swell the production capacity from its initial indicator to 740 thousand tons of oil products per year. In May 2010 the second phase of the enterprise (the 2nd phase of Antipinsky Oil Refinery) with the capacity of up to 2.8 million tons of oil products per year was put into operation. Nowadays the total production capacity (the 1st and 2nd phases) makes up 3.58 million tons p.a. 

The Credit will be used, among other things, for providing finance to the initial step of the 3rd construction phase of Antipinsky Oil Refinery consisting of several stages: the growth of the refinery’s capacity up to 7 million tons p.a., the increase of the maximum oil processing depth up to 94%, the implementation of Euro-5 quality standard for diesel fuel, as well as the creation and development of infrastructure. The total amount of capital investment for Phase 3 in 2011-2015 is estimated at USD 1.7-1.8 billion.

As of today the Company processes crude oil into technological oil, bunker fuel, directly distilled gasoline, and diesel fuel in compliance with both, GOST Russian national standard and EURO-2 -2. The processing depth mounts to 60%.

The main buyers of Antipinsky Oil Refinery products are Glencore International AG and Arkham S.A. of Vitol company group. 

References to the materials of:

  1. RosBusinessConsalting News Agency
  2. Reuters News Agency
  3. Bloomberg News Agency
  4. banki.ru Information Portal

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