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Gazpromneft shocks with PXF pricing
24 February 2010
Russian oil producer Gazpromneft has mandated SG, Natixis and BTMU for a debut pre-export financing, but the market asks: has pricing gone too low?
Read more:
[Russian oil producers pre-export financing]
[Tatneft PXF]
[Gazpromneft PXF]
[Bashneft PXF]
[ low pricing strcutured financing deals ]
Russian oil producer Gazpromneft has mandated SG, Natixis and BTMU as joint mandated lead arrangers for a $1 billion pre-export financing (PXF).
The deal is the borrower’s debut pre-export financing under its incarnation as Gazpromneft (Trade Finance 16/02/10). The banks have agreed to club together, after Gazpromneft chose them, and will fully underwrite the deal before launching a general syndication.
No official confirmation has been released by Gazpromneft over the structure or terms of the deal, but it is believed to be structured as an amortising five-year pre-export financing with a two-year grace period.
Gazpromneft chose...
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