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SPP eyes syndicated loan

Slovenský plynárenský priemysel (SPP), a state-run gas utility company, is trying to obtain a 100 million DEM (1.9 billion Sk) syndicated loan with a five-year maturity from Credit Lyonnais Bank Prague. The Bratislava branch of Credit Lyonnais has already provided SPP with a 50 million DEM bridge loan, which will mature by the time the syndicated loan is signed at the beginning of 1998. Proceeds from the loan will be used to finance the construction of a fifth line among Slovak gas pipelines.

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