TNK-BP mandates WestLB to coordinate $2-bln loan - source
MOSCOW. Aug 25 (Interfax) - TNK-BP has mandated WestLB to coordinate a club loan facility of $2 billion, a banking source told Interfax.
Interest on the three-year loan will be LIBOR + 200 basis points.
The Russian-British oil producer is talking to roughly 16 banks about the loan. Reports said at the end of July that the company planned to borrow $700 million, but the loan was later increased.
TNK-BP last borrowed from a group of banks in August 2009, when it raised a secured facility of $600 million from a syndicate that included Deutsche Bank, Bayerische Hypo-und Vereinsbank, ING Bank, Societe Generale, WestLB AG, ABN Amro Bank (London Branch), Helaba, ZAO Bank Intesa and Nordea Bank.