Rosneft signs $14.2 billion loan agreement on TNK-BP deal


Rosneft signs $14.2 billion loan agreement on TNK-BP deal


MOSCOW -- Rosneft said it has signed a $14.212 billion financing deal with a group of international banks for the purchase of 50% of TNK-BP from a consortium of Soviet-born tycoons. Rosneft said in a statement that the cost of financing the purchase of the stake held by the Alfa-Access-Renova (AAR) consortium "is one of the lowest at the Russian corporate debt market" but did not specify the terms.

The group of international banks are Bank of America Merrill Lynch, Barclays Bank, BNP Paribas, BTMU, Citibank, Credit Agricole, ING Bank, Intesa Sanpaolo Banking Group, J.P. Morgan, Mizuho Corporate Bank, Natixis, Nordea Bank, SMBC, Societe Generale, Unicredit Bank and the Bank of China.

Rosneft is also buying the other 50% of TNK-BP from BP. The deals are worth a total of $55 billion in cash and shares and will result in the world's largest listed crude producer. To finance the purchase of BP's 50% stake in TNK-BP, Rosneft said in December that it had obtained a five-year loan of $4.1 billion and a two-year $12.7 billion loan from a group of international banks.

Dow Jones Newswires

Related News ///


Comments ///

comments powered by Disqus