Russia's TNK-BP To Issue Up To $1B In Bonds

Russian oil producer TNK-BP Holding (TNBP.RS), part-owned by U.K. oil major BP PLC (BP), could raise as much as $1 billion from its upcoming eurobond offering, people familiar with the situation said Wednesday.
Τετ, 27 Ιανουαρίου 2010 - 18:12
Russian oil producer TNK-BP Holding (TNBP.RS), part-owned by U.K. oil major BP PLC (BP), could raise as much as $1 billion from its upcoming eurobond offering, people familiar with the situation said Wednesday.

The company is considering selling five-and 10-year bonds, the people said.

Although price guidance on the upcoming deal isn't yet official, early indications from investors show the five-year portion is seen pricing around 6.625%, while the 10-year portion is pricing around 7.75%.

Barclays PLC, Calyon and Royal Bank of Scotland PLC are acting as joint-lead for the transaction, which will be launched off the company's Euro medium-term-note program.