12 Oct 2011 15:06

Rosneft talks 5-yr $1.5 bln club credit with banks

MOSCOW. Oct 12 (Interfax) - Russian oil company Rosneft is discussing with a number of banks the possibility of raising a five-year club credit of $1.5 billion at potentially LIBOR+1.85% per annum, sources in banking circles have told Interfax.

Two of them said that Rosneft began its negotiations with the banks a week ago and is awaiting their feedback. What this financing would be for the sources could not say, but one suggested that it might be for capital expenditures.