Nord Stream Phase II Financing Update
Nov. 26, 2010 | Zug | Nord Stream AG today confirmed that following the recent publication of a Request For Proposal to banks for Phase II project financing, the level of interest is very high with initial subscription levels of more than 4 billion euros, which means more than 50 percent oversubscription. 2.5 billion euros are needed to finance the second phase of the project.
Nord Stream Financial Director Paul Corcoran said: "We are delighted with the level of interest shown in the project and hope to move quickly to sign Letters of Commitment with selected banks. We are on course to complete this process in early December".
