Deals
Rosneft Obtains $16.8 Billion in Loans to Finance TNK-BP Deal
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OAO Rosneft, Russia’s largest oil producer, signed loan agreements for $16.8 billion to finance the acquisition of TNK-BP.
Rosneft will borrow $4.1 billion for five years and $12.7 billion for two years from a group of international banks. The cash will pay for BP Plc’s 50 percent stake in Russia’s third-largest oil producer, the Moscow-based company said in a statement today.