Banks Prepared To Finance Nord Stream 50 Percent Over Needs

November 26, 2010
Banks' interest in financing a 2.5 billion euro credit line for the operator of the Nord Stream gas pipeline has exceeded expectations by 50 percent, the company reported in a news release.

"After recent publications requesting proposals from banks to finance the second line of the project, the level of interest is very high with an initial level of over 4 billion euros, or 50 percent more than the 2.5 billion euros needed to finance the second stage of the project", Nord Stream's press office reported.

Nord Stream Financial Director Paul Corcoran said that the process of attracting funds would be completed in December.

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