Eurasia Drilling to Borrow $272.4 Million From UniCredit Bank

Eurasia Drilling Co. (EDCL), Russia’s largest driller, will open a $272.4 million credit line with UniCredit Bank Austria AG.

The loan is in two parts, the first for $227 million at the London interbank offered rate plus 3.65 percent, to be repaid in 60 months, a company document shows. The second will be a $45.4 million facility to be repaid in 36 months at a 1 percent rate.

Eurasia Drilling didn’t say how it will use the loan.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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