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. Last Updated: 07/27/2016

Gazprom to Get Loan

MOSCOW () -- The European Bank for Reconstruction and Development hopes to complete a syndicated loan of as much as $500 million for Gazprom by autumn, its Moscow representative said.

Lou Naumovski said Monday that the loan, in which the EBRD could take up to 35 percent, would be the first corporate borrowing by Gazprom, the world's biggest gas company. The money would go toward the gas monopoly's pipeline network.

The rest of the loan would be provided by a group of commercial banks.