Russia’s Gazprom Lifts 2019 Borrowing To $11B

Russia’s gas giant Gazprom is raising its borrowing target for this year 2.4 times to US$11.1 billion (725 billion Russian rubles), a source familiar with the plan told Russia’s news agency Interfax. Gazprom is currently reviewing its budget after the end of the first half of the year and has decided to raise the borrowing target from US$4.56 billion (298 billion rubles) to US$11.1 billion (725 billion Russian rubles), the source said. Gazprom has said that it is moving to a policy to refinance debt with new borrowings. Last year, the…