ENERGY FOR PEOPLE - JSC Gazprom Neft

JSC GAZPROM NEFTANNUAL REPORT2009DEBT OBLIGATIONSAs of December 31, 2009 theCompany’s long-term debt amounted to5 628 mln USD as compared to 3 080mln USD as of December 31, 2008. Theincrease was due to the acquisition of51% interest in The Serbian verticallyintegrated company Naftna IndustrijaSrbije A.D., the acquisition of the controlstock of Sibir Energy, borrowings fromRussian and foreign banks and rublebonds issuance.The loan agreements contain financialcovenants that set requirements forthe Company’s ratios of ConsolidatedEBITDA to Consolidated InterestPayable, Consolidated Indebtednessto Consolidated Tangible Net Worthand Consolidated Indebtedness toConsolidated EBITDA. Managementbelieves that the Company was incompliance with these covenantsas of December 31, 2009 and 2008respectively.Major borrowings in 2009Lender Loan amount Date ofagreementDue DateInterest RateVnesheconombank $600 000 000,00 15.12.2008 tranche 1 15.12.2010;tranche 2 16.03.2011;tranche 3 15.06.2010;tranche 4 14.09.2010;tranche 5 14.12.2010Libor+5,0%VnesheconombankSberbankRuble bondsTranskreditbankSberbankAbsolutbankRuble bondsBTMU, Unicredit, Nordea, Raiffesenbank,Societe GeneralRussian Commercial bankSberbank$375 000 000,00 30.12.2008 24.07.2009 10,75%$724 000 000,00 06.02.2009 30.12.2009 8,40%10 000 000 000,00 rub. 21.04.2009 19.04.2011 16,70%$175 000 000,00 28.05.2009 28.12.2009 6,90%$857 186 080,22 29.05.2009 29.12.2009 8,46%$50 000 000,00 01.07.2009 04.08.2010 5,50%8 000 000 000,00 rub. 21.07.2009 17.07.2012 14,75%$500 000 000,00 07.08.2009 05.10.2012 Libor+5%$624 000 000,00 23.12.2009 24.12.2012 6,50%$857 186 080,22 28.12.2009 28.09.2012 8,46%151