EM lenders dread margin mauling on Rosneft’s record breaker
Just when they thought clients had squeezed them for all but their dying breaths, emerging market lenders could be about to take their most punishing price cut all year. EM loans bankers are preparing for Russian oil and gas firm, Rosneft to ask for an eye-watering revision to its record breaking $31bn loan, which it used to acquire TNK BP, ahead of a repayment due in November, writes Michael Turner.
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