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7

Rosneft Raises Syndicated Loan To $2bn

Russian state-run oil company Rosneft plans to raise up to $2 billion...

Russian state-run oil company Rosneft plans to raise up to $2 billion in a syndicated loan for pre-export financing, Cbonds.info reported.

The five-year facility, whose mandated lead arranger is Dutch ABN AMRO BANK, will be a secured deal and help refinance the company's existing debt, they said.

"The deal will be announced in the next couple of weeks," said one. Rosneft was last in the market last year for a $800 million five-year refinancing deal.

Separately, western banks are also involved in a bridging loan to finance the Russian government's purchase of a 10.7 percent stake in gas monopoly Gazprom. It plans to pay for the shares with loans secured on Rosneft and an equity sale.