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UPDATE 1-Gazprom signs 350 mln euro credit deal with Italy's Intesa
January 22, 2015 / 11:33 AM / in 3 years

UPDATE 1-Gazprom signs 350 mln euro credit deal with Italy's Intesa

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MOSCOW, Jan 22 (Reuters) - Russia’s gas export monopoly Gazprom said on Thursday it had signed a 350 million euro ($407 million) credit agreement with Italian banking group Intesa Sanpaolo.

Gazprom said the deal was the first ever credit agreement between the two companies. It did not reveal any more details.

In December, the Russian company signed a 390 million euro credit line with another Italian bank, UniCredit, even though the mood towards Russian borrowers has soured in the West because of a stand-off over Ukraine.

The company also sold $700 million of Eurobonds in November in the first international public bond issue from Russia since June 2014.

Gazprom, which supplies about 30 percent of the European Union’s gas needs, has not been targetted in EU sanctions, designed to put pressure on President Vladimir Putin over Russia’s actions in Ukraine.

$1 = 0.8607 euros Reporting by Maria Kiselyova; Editing by Jason Bush and Mark Potter

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