TANECO obtains USD2 bln loan

12 Dec 2007 11:30

O.A.O. Tatneft12 December 2007 12 December 2007 The project company implementing the construction of the refining andpetrochemicals complex in the city of Nizhnekamsk, Republic of Tatarstan, Russia(the "Complex"), OJSC TANECO, which is consolidated into OAO Tatneft's US GAAPfinancials, announced today that it has obtained a US$2 billion credit facilityarranged by BNP Paribas. The credit facility will be available for 25 months,with an additional 6-month extension option. Interest on the loans made underthe credit facility will be LIBOR plus 1.65% per annum. The loans received willbe used to finance engineering, construction and procurement works as well asthe purchase of materials and equipment for the Complex. The facility is securedinter alia by a corporate guarantee of OAO Tatneft. Forward-looking statements: This announcement contains statements about futureevents and expectations that are forward-looking in nature. Any statement inthis announcement that is not a statement of historical fact is aforward-looking statement that involves known and unknown risks, uncertaintiesand other factors which may cause actual results, performance or achievementsexpressed or implied by such forward-looking statements to differ. OAO Tatneftassumes no obligations to update the forward-looking statements contained hereinto reflect actual results, changes in assumptions or changes in factorsaffecting this announcement. This information is provided by RNS The company news service from the London Stock Exchange