BP-Rosneft prepayment facility hits $5bn target, syndication possible
Loans bankers are due to meet by Friday to finalise details of the up to $5bn five year amortising prepayment facility that will be used to finance oil purchases by BP from Rosneft.
The $5bn target has been reached fairly comfortably, according to a senior loans banker. The first round of financing is expected to be signed by the end of the year.
The deal may then be syndicated generally in January or February, the banker added.The money will be ...