Lukoil to sign $1.5bn Conoco deal next week, while TNK-BP rises to $2bn

Lukoil, Russia’s second biggest oil producer, is set to sign a loan of roughly $1.5bn next week to finance the buyback of its own shares from ConocoPhillips.

  • 05 Aug 2010

Bankers close to the deal, which Citi is co-ordinating, said it is expected to be signed on Tuesday, August 10.

The borrower, rated Baa2/BBB-/BBB- and one of Russia’s strongest credits, having made Ebitda of $13.5bn last year, has put the one year unsecured facility together in only the last ...

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