Bashneft and Gazpromneft debate pre-exports

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02 February 2010

Russian oil producers Bashneft and Gazpromneft are deciding between pre-export financings or bond issues as they approach bankers for new loans.

Russian oil producers Bashneft and Gazpromneft are both in the market for jumbo financings.

Banks are lining up to land the mandates but the producers are still debating about whether to tap the bond market or use a pre-export financing.

Market insiders confidently predict that that if both companies do decide to undertake pre-export financings they will be looking to secure at least $1 billion each with a push towards five-year tenors.

Russian oil producer Tatneft is already back in the market as it negotiates a $2 billion refinancing to finance construction of its Taneco refinery project in the Republic...

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