Wave of loan repricings expected as Bashneft hacks off 65bp

Russian oil firm Bashneft has completed the repricing of its $600m three year loan, in a move that emerging market loans bankers have said will inevitably be repeated as companies use their pricing power to cut margins.

  • By Michael Turner
  • 28 Oct 2013

Bashneft (Ba2/BB) has shaved around 65bp from the 235bp margin it agreed to pay for the loan in May. 

The firm was prompted to return to the loan market when its BB rated compatriot EuroChem contentiously priced its $1.3bn debut unsecured loan at ...

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