Russia's biggest independent oil producer OAO Lukoil (LKOH.RS) said Friday it has obtained a EUR400 million loan to finance its 49% stake in Italy's ISAB refinery.
The six-month loan carries an annual interest rate of 5.9%. The company has an option to extend the facility for another six months.
The facility was arranged by ABN AMRO Bank N.V., Barclays Capital, and ING Bank N.V.
Earlier this month, Lukoil finalized a joint venture with Italian refiner ERG SpA (ERG.MI), which includes Lukoil taking a 49% stake in ERG's ISAB refinery in Priolo, Sicily.