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Rosneft Gets Central Bank Help Refinancing $7 Billion Loan

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Russia’s most-indebted company slapped by sanctions, OAO Rosneft, raised $10.8 billion on the local market this week in an operation financed by the central bank.

The deal comes as Russian corporations struggle with foreign-currency debt after U.S. and European Union sanctions curbed access to international capital markets and the country’s economy heads for recession next year. Rosneft, which faces a $7 billion loan redemption on Dec. 21, obtained the central bank-backed deal after delays by the government over its request to tap the country’s National Wellbeing Fund.