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02.09.2008  
  Celebration events dedicated to the issue of a syndicated loan facility for USD 500 million arranged by ING Bank N.V. for OJSC “TAIF-NK”

Nizhnekamsk
2 September, 2008

Today, the celebration events took place in Nizhnekamsk dedicated to the ING Bank N.V. issue of a syndicated loan facility worth USD 500 million in favor of OJSC “TAIF-NK”, the Company of TAIF GROUP. The celebration was attended by Prime Minister of the Republic of Tatarstan Rustam Minnikhanov.

This is one of the largest public transactions of TAIF GROUP with eleven international banks attracted: ING Bank N.V., ABN AMRO Bank N.V. (RBS), HSH Nordbank AG London Branch, KBC Bank N.V., NATIXIS, Bayerische Hypo - und Vereinsbank Aktiengesellschaft, BNP Paribas S.A., Fortis Bank (Nederland) N.V., DekaBank Deutsche Girozentrale Luxembourg S.A., LBBW Landesbank Baden-Wurttemberg, Banque Cantonale de Geneve.


The syndicated loan facility is aimed at the optimization of OJSC “TAIF-NK” credit portfolio and at increasing the Company’s working capital. “TAIF-NK” refinery complex can be called, without exaggeration, one of the most developed and unique refining plants of the world, as it is a “heart” of the refinery in the Republic of Tatarstan producing the whole range of petrochemical products of international benchmark Euro-4 level.

During the celebration, Alexander Babynin, General Director of OJSC “TAIF-NK”, told about the results and further development strategy of the Company. The special attention was paid to the strategic development program of the Company for 2008-2014, i.e. to increase the capacity of crude oil refinery up to 9 million tons per year and to launch the refining of high-sulphur carbonated crude oil produced in the Republic of Tatarstan. The realization of the latter project has been started already in 2008.

The celebration was followed by a visit to the production facilities of OJSC “TAIF-NK”. The other events included the business meeting between the representatives of the foreign banks, the managers of the TAIF GROUP and Tatarstan companies to discuss the ways of further mutually beneficial cooperation.
 

 

27, Shchapova Str.,
420012 Kazan, Republic of Tatarstan, Russia


Tel.: +7 (843) 277-94-02
Fax: +7 (843) 277-94-03
E-mail: bars@taif.ru