Russia's biggest oil producer Rosneft has returned to the market and despite adverse market conditions, its latest pre-export financing is proving to be very popular among lenders.
The corporate originally approached the market earlier this year with a target of raising US$2bn, however according to sources close to the deal, the transaction has managed to raise US$3bn at senior level.
A total of 16 banks are participating in the deal, with 14 banks taking mandated lead arranger and bookrunner roles.
As the pre-export financing is structured as a single lender conduit, Deutsche Bank is the sole lender of record and facility agent, and ING is the passport bank.
General syndication is expected to be launched next week, with the deal potentially being increased beyond US$3bn.
Reader Comments