February 13, 2013 / 10:31 AM / 5 years ago

Rosneft board approves $14.2 bln loan for TNK-BP deal

MOSCOW, Feb 13 (Reuters) - Russia’s top oil producer Rosneft said on Wednesday its had signed a $14.2 billion financing deal to back its purchase of half of TNK-BP from a consortium of Soviet-born billionaires.

Rosneft agreed a deal last year to buy Anglo-Russian oil firm TNK-BP from its joint owners - the AAR consortium and BP - for $55 billion. In December it raised $16.8 billion in bank loans for the deal.

Earlier this week, banking sources told Reuters that Rosneft was scheduled to sign a $13 billion syndicated loan to back the deal.

Rosneft also said on Wednesday, its board agreed to expand cooperation with ExxonMobil without elaborating. Rosneft and Exxon have already agreed to jointly tap hydrocarbon deposits in Russia’s Arctic waters and in North America.

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