Tatneft ‘reverse-flexes’ $2bn pre-export financing

Oil group Tatneft has tightened pricing on a $2bn pre-export financing, in a sign of banks’ hunger for Russian deals.

  • 19 Mar 2010

The borrower, rated BB by Fitch and part-owned by the Republic of Tartarstan, asked banks last month to commit to a three, five and seven year facility.

Tatneft proposed paying margins of 325bp, 425bp and 600bp, respectively. The three and five year pieces have each been narrowed by 15bp, ...

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