Rosneft looking to raise $10bn
Rosneft is negotiating with its foreign partners and oil traders, including Shell, Total, Glencore, Total and BP, to take out up to $10bn in loans backed by future oil deliveries to finance the acquisition of TNK-BP, RBC Daily reported today, citing reports by foreign media.
The state-owned oil major needs $45bn to take over TNK-BP, including $17bn in cash and 12.84% in treasury shares it is expected to pay BP, and another $28bn to Russia's Alfa-Access-Renova (AAR) consortium.
According to Rosneft's representative Vladimir Tyuilin, the oil company is "currently receiving proposals from various organizations, and will consider the ones that offer most advantages for the company and its shareholders."
Source: www.rbcnews.com