February 12, 2013 / 8:52 AM / 5 years ago

RLPC-Rosneft to sign $13 bln loan for TNK-BP acquisition Tuesday

LONDON, Feb 12 (Reuters) - Russian oil giant Rosneft is scheduled to sign up on a $13 billion syndicated loan on Tuesday that will back its $55 billion acquisition of TNK-BP, sources close to the deal said on Tuesday.

The $13 billion loan is the second part of a two-stage $29.8 billion loan package that will help make Rosneft the world’s largest listed oil producer once the acquisition is completed. The other $16.8 billion was signed in late December.

Rosneft declined to comment.

Bank of America Merrill Lynch and Citigroup are coordinating the jumbo loan package, which marks the largest-ever loan financing to a Russian company and Europe’s ninth-largest loan ever.

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