Russian oil company, Russneft, has altered the terms of its loan facility with its lenders, Sberbank and Glencore International. The maturity period of the $6.2 billion debt has now been extended to 2020. As per the agreement, the interest rate of the loan has been reduced to 9%. Reduction in the interest rate will enable RussNeft to release $200 million capital a year to invest in ongoing and new investment projects.

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