12 Oct 2009 19:24

Lukoil planning Eurobonds to refinance loan for ISAB stake

MOSCOW. Oct 12 (Interfax) - Lukoil is planning to offer Eurobonds in the next few weeks to refinance a bridge loan taken out almost a year ago to finance the purchase of a stake in the ISAB refinery in Italy, a source at an American investment bank told Interfax.

The source said the oil company had been planning a bond issue for a while and held a road show in the summer, but a poor market situation stopped it. The market has now improved.

Royal Bank of Scotland and Barclays Capital could arrange the placement.

LUKOIL Finance Limited raised the three-year loan of $280 million at 5.4% pa in November last year.