TNK-BP lights up Russia with ‘relationship-defining’ $750m loan

Oil group TNK-BP has lit up Russia’s loan market by asking banks for a $750m facility, set to be the first major unsecured deal from the country this year. Such is the appetite for top-rated Russian corporate assets that bankers say TNK-BP could price tighter than state-owned peer Gazprom-Neft, which recently launched a $1bn loan, and still raise double that amount.