Petrolinvest Upstream Gets USD 50m Financing from EBRD

Posted March 19th, 2010 in Business news by Ela Pawełek-Lubera

Listed upstream fuel firm Petrolinvest was granted a USD 50 mln convertible loan from the European Bank for Reconstruction and Development to finance its Kazakh operations, the company said in a market filing late Tuesday.

“The company management underlines that the decision made by the bank was preceded by many-month due-diligence, including geological, technical, ecological as well as economic and financial issues,” the filing read.

The agreement with EBRD will not only assure the company financing of its Kazakh operations but also will include actions aimed at improving company’s corporate governance standards and assuring the best environmental protection standards, the company noted.

Source: www.warsawvoice.pl

This entry was posted on Friday, March 19th, 2010 at 08:15 and is filed under Business news. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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