Russia’s largest oil producer Rosneft is once again tapping the syndicated loan market for a US$1bn loan, according to bankers close to the deal.

Deutsche Bank is currently in discussions with Rosneft about the syndication process, which is in its early stages, a source close to the deal tells GTR.

Rosneft closed a US$2bn five-year credit line with Barclays Capital and 14 other banks in December last year. The deal was upsized from US$1.5bn.

Rosneft also signed a US$500mn five-year term loan facility in September 2011 with Nordea and SMBC.