Russia’s fuel big Gazprom is raising its borrowing goal for this yr 2.Four instances to US$11.1 billion (725 billion Russian rubles), a supply conversant in the plan informed Russia’s information company Interfax.
Gazprom is presently reviewing its price range after the tip of the primary half of the yr and has determined to boost the borrowing goal from US$4.56 billion (298 billion rubles) to US$11.1 billion (725 billion Russian rubles), the supply mentioned.
Gazprom has mentioned that it’s transferring to a coverage to refinance debt with new borrowings.
Final yr, the Russian fuel big—which holds greater than a 3rd of the fuel market in Europe—raised its borrowing program after reviewing it midway by the yr to US$11.three billion (740 billion rubles) from the initially deliberate borrowings price US$6.Four billion (417 billion rubles).
Regardless of the numerous improve within the borrowing program for 2019, Gazprom’s funding program stays virtually unchanged after the price range overview, in response to Interfax.
Gazprom’s monetary outcomes for the second quarter of 2019 showed on the…