Rosneft Wins Financing for Buyout of BP's TNK Stake

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

On Monday, Russian oil giant Rosneft announced that it has signed two loan agreements with a consortium of international banks, securing a combined $16.8 billion to be used in funding its purchase of BP's (NYSE: BP  )  50% stake in Russian oil company TNK-BP.

The banks involved in making the loans included Bank of America Merrill Lynch (NYSE: BAC  ) , Barclays Bank (NYSE: BCS  ) , BNP Paribas, BTMU, Citibank (NYSE: C  ) , Credit Agricole, ING Bank (NYSE: ING  ) , Intesa Sanpaolo Banking Group, J.P. Morgan (NYSE: JPM  ) , Mizuho Corporate Bank, Natixis, Nordea Bank, SMBC, Societe Generale, and Unicredit Bank.

In related news, Rosneft also announced Monday that it has negotiated "heads of terms" that are expected to lead to long-term crude oil supply contracts with Glencore International plc and Vitol, two of the world's leading oil trading companies. Rosneft plans to sign contracts agreeing to supply these companies with some 67 million tons of crude oil over a five-year period beginning in 2013. 

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2168322, ~/Articles/ArticleHandler.aspx, 10/25/2016 10:44:18 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 hour ago Sponsored by:
DOW 18,169.27 -53.76 -0.30%
S&P 500 2,143.16 -8.17 -0.38%
NASD 5,283.40 -26.43 -0.50%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/25/2016 4:00 PM
BAC $16.72 Down -0.05 -0.30%
Bank of America CAPS Rating: ****
BCS $8.90 Down -0.02 -0.22%
Barclays CAPS Rating: ****
BP $36.04 Up +0.17 +0.47%
BP CAPS Rating: ****
C $49.59 Up +0.01 +0.02%
Citigroup CAPS Rating: ***
ING $12.95 Down -0.06 -0.46%
ING Groep CAPS Rating: ****
JPM $68.80 Down -0.07 -0.10%
JPMorgan Chase CAPS Rating: ****