Gazprom and the French bank Credit Agricole Corporate & Investment Bank (Credit Agricole CIB) signed a five-year EUR600-million facility agreement on May 17, 2018.

Gazprom’s signatory on the agreement was Andrey Kruglov, deputy chairman of the company’s management committee. Erik Koebe, president of Credit Agricole CIB AO (Russia), and Nicolas Lipovsky, managing director, head of loan origination for Central and Eastern Europe, signed on behalf of Credit Agricole CIB.

The facility agreement marks the second deal Gazprom made to secure financing directly from Credit Agricole CIB.

Credit Agricole CIB (rated long-term “A” by S&P, “A+” by Fitch, “A1” by Moody’s) is the corporate and investment banking arm of the Credit Agricole Group, Europe’s number two bank, as measured by Tier One Capital. The Group has offices in 49 countries with over 139,000 employees. Credit Agricole CIB is a leading bank in syndicated loan markets and is active in international debt and equity capital markets.

The strategy of Credit Agricole CIB in Russia is to cooperate with the leading Russian and multinational companies.

Gazprom has been working together with the Credit Agricole Group since 1995. The Credit Agricole Group participated in many of Gazprom’s financial operations, including deals for corporate and project financing, as well as transactions with Gazprom Group’s Eurobonds in capital markets.