Cheers as TNK-BP braves syndication, but success doubted
Anglo-Russian oil company TNK-BP on Tuesday became one of only a handful of borrowers to brave the syndications market in Russia this year when it ventured out with a $315m pre-export financing. The best-efforts deal could provide a much-needed boost to the country’ stricken loan market if it can attract demand — but despite welcoming the launch of the facility, bankers away from the transaction warned it could struggle in syndication.
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