Russian Borrowers Seeking $3 Billion of Loans as Banks Retrench

Bloomberg reported OAO GMK Norilsk Nickel (LSE:MNOD,MCX:GMKN) and OAO Gazprom (MCX:GAZP) are seeking about $3 billion of loans.

As quoted in the market news:

Norilsk Nickel is in talks for a $1.5 billion pre-export finance loan, and Gazprom plans to borrow $800 million, according to data compiled by Bloomberg. Moscow-based OAO Sberbank had to increase the interest it offered on a loan two weeks ago by 20 basis points.

Click here to read the full Bloomberg report.