BP and Rosneft prepayment deal divides loan market
Lenders in the Russian loan market have been asked to raise $5bn for a prepayment facility, relating to oil offtake agreements between Rosneft and BP, writes Michael Turner. Some loans bankers considering the deal are viewing it as a Rosneft facility, which could test banks' already quite full limits for the company even further. Rosneft, however, staunchly denies that it is raising any money through the loan market.
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