LONDON Jan 28 Commodity traders Glencore
International and Vitol have asked banks
for a $10 billion syndicated loan to finance the purchase of up
to 67 million tons of crude oil from Russian group Rosneft
, bankers said on Monday.
Rosneft agreed long-term crude supply contracts with
Glencore and Vitol in December 2012 [ID: nWLA7049].
The contracts could be worth around $50 billion, one of the
The loan, which will be one of the biggest pre-export trade
financings, will use Rosneft's future oil exports as collateral,
Glencore and Vitol are arranging the loan and asked banks to
commit $500 million each and to express willingness to lend
Glencore and Vitol declined to comment.
Rosneft was not available to comment.