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30

Rosneft Plans to Raise a Syndicated Bridge Loan

RBC reports that Rosneft has plans to raise a loan worth USD 1bn-1.5bn from foreign banks to refinance its current debt

The news was announced to the reporters today by the oil company's Vice President Sergei Makarov.

Makarov also noted that in 2008, the company repaid a total of RUB 70bn (approx. USD 2.52bn) of its debt. In 2009, the company will have to pay off or refinance USD 1bn of its old debts a quarter, apart from repaying or refunding ruble-denominated loans raised in 2008. This means that the total amount payable in 2009 runs up to USD 7bn.

Author: Ksenia Kochneva