OREANDA-NEWS. January 3, 2011. ITERA Oil and Gas Company, LLC borrowed a syndicated loan of USD  250 million for a term of three years on December 2010.  Deutsche Bank AG (London Branch) acted as an underwriter for the loan.

The syndicate of creditors included Deutsche Bank AG, Raiffeisen Bank, UniCredit Bank and other credit institutions. Deutsche Bank Luxembourg S.A. is the paying agent and the security agent for the loan. The loan agreement envisions a possibility for a follow-up usage of the loan in the secondary debt market. The parties’ relationship under the loan agreement is regulated by the law of England.

The loan interest rate for the first usage year is set at LIBOR 6M  plus  5.25%. The interest rate was 5.7% a year for the first half-year.

ITERA Oil and Gas Company, LLC views the syndicated loan as an important stage of a strategy for it to enter international finance markets.