TNK-BP lines up 10 for up to $1.5bn loan

27 Jul 2011

A group of ten banks is working on Russian oil company TNK-BP’s new four year amortising loan, which is set to be increased from its original $1bn size.

Jonathan Muir, TNK-BP’s chief financial officer, said on Tuesday that the company would borrow $1.5bn and that the deal will be finalised next week.

Bank of America Merrill Lynch and BTMU are joint co-ordinators. Bayern LB, Citi, Crédit Agricole, HSBC, Mizuho, Nordea, SMBC and WestLB make up the rest ...

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