Russian-British joint venture ТNК-BP is planning to place two tranches of Eurobonds worth some $1 billion, AK&M reported.
The Eurobonds will be issued by TNK-BP Finance S.A. under the Euro Medium Term Note program worth $5 billion that was registered last year.
The maturity of the bonds will be 5 and 10 years. According to the source, ten-year bonds will take the greater part in the structure of TNK-BP's loan.
The interlocutor of the Agency also said that a yield spread of the 10-year bonds is expected at 237.5-250 basis points to US treasury bonds. A yield spread of the 5-year bonds is expected at 187.5-200 points.
UBS, BNP Paribas, Citigroup and CSFB are arrangers of TNK-BP's bond issue.
In June, TNK-BP managed to refinance most of its secured indebtedness by arranging for an unsecured 5-year loan of $1.8 billion. ABN AMRO, BNP Paribas, Calyon and Citigroup are arrangers of the loan.
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ТNК-BP to Place to Tranches of $1bn
ТNК-BP is planning to place two tranches of Eurobonds
