Russia’s Lukoil has mandated ABN AMRO and Calyon as initial mandated lead arrangers and bookrunners to arrange an unsecured US$250mn term loan. The five-year loan is primarily to refinance the remaining part of the company’s US$ 765mn syndicated pre-export facility arranged in 2003 and for general corporate purposes. Syndication was launched on March 23.


The margin is Libor plus 0.40% per year.


Lukoil is the largest non-governmental oil company worldwide in terms of proven reserves of crude oil (accounting for 1.3% of global oil reserves and 2.1% of global oil production) and the second largest oil company worldwide (behind ExxonMobil) by proven reserves of hydrocarbons.


Lukoil accounts for 21% of Russian oil reserves, 18% of Russian oil production and 18.3% of Russian oil refining throughput. The company’s main activities centre on exploration, production, refining, marketing and distribution. Lukoil has operations in more than 30 countries worldwide.