EM on tenterhooks as Tatneft to tap loans for $2bn

02 Feb 2010

Bankers are increasingly confident that Tatneft, the Russian oil group, will tap the loan market to refinance a $2bn facility due in July, easing concerns it would turn to bond investors or state-owned lenders instead, they said today.

“There’s definitely going to be a loan,” said an emerging markets banker on Tuesday. “They’re still deciding what size they want. They’ve changed their minds a few times — first wanting less than $2bn, then more — but they’ll come out with something fairly soon.”

Others said the borrower ...

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