Rosneft Secures $14.2B Loan For TNK-BP Acquisition

Law360, New York (February 13, 2013, 1:23 PM EST) -- Russian energy titan OAO Rosneft has secured a $14.2 billion loan from a group of global banks led by Bank of America Merrill Lynch to finance part of its $28 billion acquisition of a 50 percent in TNK-BP Ltd. from a consortium of Russian tycoons, Rosneft said Wednesday.

Rosneft signed loan agreements with the group of banks, which also include Barclays Bank PLC, JPMorgan Chase Bank NA and Citibank NA, on Wednesday. The cost of the financing is among the lower ever on the Russian corporate...
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