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Tatneft offers “aggressive” start to 2010

12 January 2010

Russian oil major Tatneft is looking to push-out the tenor on its latest pre-export financing.

Read more: [Russia pre-export finance] [oil pre-export finanicng] [Tatneft PXF]

Russian oil major Tatneft is back in the market as it negotiates a $2 billion refinancing to finance construction of its Taneco refinery project in the Republic of Tatarstan.

The deal is still in the early stages of negotiations with no bank yet mandated or structure agreed upon, but bankers expect the majority of the loan to be done through a pre-export financing.

The deal refinances a...


Poll

Gazpromneft stunned the market this week when it was revealed pricing for their five-year $1 billion pre-export financing was rumoured to be just above 300 basis points over Libor. Is the deal likely to be a syndication success?

Yes - this seems like a sensible pricing benchmark, why not?
9%
No - are you crazy? These prices are ridiculous. What were these banks thinking?
27%
Yes - but for all the wrong reasons. A lack of other deals in the market, and the promise of future business with Gazpromneft will make it hard to ignore but don’t expect many to take up big tickets with this deal. There are much better deals out there.
64%