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Japanese banks to lend to Gazprom www3.nhk.or.jp
A group of lenders including major Japanese banks are preparing a joint loan for Russia's government-backed energy giant Gazprom.
Sources close to the deal say Sumitomo Mitsui, Mizuho and US lender JPMorgan Chase are in final negotiations for the 860-million-dollar loan.
The move comes as Japanese and Russian officials are discussing economic cooperation ahead of a bilateral summit scheduled for December 15th.
The 3 banks have loaned money to Gazprom before. The banks said they are expecting growth in global energy needs.
The government-affiliated Japan Bank for International Cooperation is also setting up a yen-denominated credit line worth more than 260 million dollars. The funds will be offered to businesses in Russia through a major local bank.
Published Date:2016-12-06
