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Gazprom – ECA-backed financing
02 March 2011
A first step into ECA-backed finance
This was an extremely interesting deal that was originally mandated back in July 2009 and that ran alongside a Sace-guaranteed deal arranged by BNP Paribas. Citi stepped up, and as sole mandated lead arranger and facility agent, proposed an export credit solution to Russian energy company Gazprom that met the borrower’s ambitious capex plans.
As part of those plans, the borrower is building the Portavaya compressor station – the largest of its kind and a key part of the Nord Stream pipeline project that connects Russia with Germany. As the credit markets were still tight...
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