Russia Lukoil to brief bond investors -sources

Wed Jul 15, 2009 1:01pm EDT
 
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MOSCOW, July 15 (Reuters) - Russia's LUKOIL (LKOH.MM) is briefing investors regarding a possible Eurobond issue, banking industry sources told Reuters on Wednesday.

"The company is testing the market: they had plans to issue about $1 billion of Eurobonds, but only the demand will show to what extent this sum can be realised," a source at one of the banks said.

The source added that LUKOIL could place the bond in September.

LUKOIL declined to comment on the matter.

Russia's oil and gas majors have returned to the debt markets recently as energy prices recovered.

LUKOIL, Russia's second largest oil producer and the country's largest private oil firm, earlier this month signed a $1.2 billion syndicated loan with a group of 12 banks, banking sources close to the deal said. [ID:nL3360247]

Separately, a banking industry source told Reuters on Wednesday that gas export monopoly Gazprom (GAZP.MM) will meet with investors from July 20 to discuss its planned $2 billion Eurobond issue. [ID:nLO454472]

TNK-BP (TNBPI.RTS), half owned by oil major BP (BP.L), is also meeting with investors this month in order to gauge their interest in a planned Eurobond issue, a banking industry source told Reuters on July 6. [ID:nL6414097]

(Reporting by Oksana Kobzeva, writing by Alfred Kueppers; editing by Elaine Hardcastle)

 

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