Bank of China to provide Gazprom with EUR 2 billion loan
Gazprom and Bank of China Limited, London Branch entered today in Shanghai into a five-year EUR 2 billion loan facility agreement.
On the part of Gazprom the agreement was signed by the Deputy Management Committee Chairman Andrey Kruglov and on the part of Bank of China Limited, London Branch – by the Deputy General Manager Wang Huabin.
For Gazprom this is the largest deal in terms of the amount of financing attracted directly from one financial institution and the first bilateral loan facility agreement with a Chinese bank.
Andrey Kruglov and Gao Yingxin, Bank of China Executive Vice President discussed the prospects for deeper cooperation between Gazprom and Bank of China.
Bank of China is a prominent international banking group focused on banking operations, investment activities and insurance and leasing services. The total value of its assets exceeds CNY 16 trillion. A vast network of the Bank's branches spreads over 46 countries and regions worldwide.
Bank of China has the longest track-record of operations and the broadest presence in the international capital markets among Chinese commercial banks. Bank of China has been designated as a Global Systemically Important Bank for five consecutive years and is the only Chinese company listed in the Fortune Global 500 ranking for 27 straight years.