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8

Rosneft Seeks Money To Buy Gazprom

Rosneft will use the money to finance the acquisition of....

Russian?s state-run oil company Rosneft is about to borrow a $7.3bn bridge facility.

ABN Amro, Barclays Capital, BNP Paribas, Dresdner Kleinwort Wasserstein (DrKW), JP Morgan and Morgan Stanley are close to the financing a $3bn syndicated facility that Credit Lyonnais and Dresdner Bank arranged for Gazprom in 1997.

Rosneft will use the money to finance the acquisition of the 10.7% stake in Gazprom it agreed to buy in June.

The $7.3bn loan will be repaid through a planned Rosneft's IPO next year.