OREANDA-NEWS. On 31 December 2008 Integra Group (LSE:INTE), a leading Russian independent provider of onshore oilfield services and manufacturer of oilfield services equipment, announced the signing of a loan agreement with the European Bank for Reconstruction and Development (“EBRD”) pursuant to which EBRD commits to provide USD 75 million of an overall five year multiple tranche financing of up to USD 300 million. The drawdown of funds under this facility is dependent upon the provision of a co-financing tranche by a group of commercial banks.

The EBRD loan is expected to refinance short-term liabilities of Integra Group, improve balance sheet structure and provide resources for equipment upgrades which will target better energy efficiency and environmental safety.