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NK Rosneft' OAO Approves Loan of Up to Around USD 10 Billion from TNK-BP-Dow Jones News Service


Tuesday, 26 Mar 2013 06:36am EDT 

Dow Jones News Service reported that NK Rosneft' OAO's Board of Directors has approved a potential loan worth up to around USD 10 billion from TNK-BP, a joint-venture recently acquired by the Company, for a period of five years. The decision was made Thursday, according to the statement from the Company. NK Rosneft' OAO has not taken up the loan, but merely received approval from its Board of Directors to borrow the amount. This so-called cash-pulling practice is standard, and does not oblige the Company to take up the loan, the Company's spokeswoman said.