Calyon, Credit Suisse Group and ABN Amro Holding were the banks that provided the loan for the acquisition of the Rompetrol Group, and due within 364 days, says Bloomberg.
Interest on the loan will be 90 points higher than the London Interbank Offered Rate (LIBOR), with one point equal to 0.01 percentage points, translating to interest 0.9 percent higher than the LIBOR rate, added the press release.
The KazMunaiGaz state-owned oil company took over 75 percent of Rompetrol Group shares in August 2007, from businessman Dinu Patriciu. The value of the transaction was not made public at the time the contract was signed, although a figure of €2.7 bln was mentioned, based on an evaluation of the group according to which the company is worth €3.6 bln.
The Rompetrol takeover by KMG constitutes an opportunity for the Kazakh company to enter the European market.
