Bashneft set for debut loan
Russian oil firm, Bashneft is in talks with BNP Paribas, Deutsche, Goldman Sachs and ING for a debut $300m three year pre-export financing. The company has not yet decided whether to sign a club deal with the four lead banks or to launch it into syndication.
"Its a new client for the international bank market which is nice to see," said a loans banker.
Pricing is competitive with existing loans and bankers say Bashneft will pay a margin below the 240bp repriced margin being sought by Tatneft and above the 160bp margin which GazpromNeft is
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