Russia's largest oil producer OAO Rosneft (ROSN.RS) Monday said it had repaid a $5.2 billion tranche of a bridge loan drawn in early 2007.
Rosneft said it funded the repayment through a pre-announced five-year $3 billion facility drawn in February as well as free cash flow.
The company said it had now refinanced or repaid $5.6 billion of $5.8 billion in short-term debt falling due in the first quarter of 2008, with $2.6 billion fully repaid from free cash flow.