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Tatneft set to mandate banks for PXF

25 February 2010

Russian oil producer Tatneft is set to mandate banks this week for a jumbo pre-export financing revolver.

Read more: [Tatneft mandates pre-export financing] [Russian oil prodcuers] [Bashneft]

Russian oil producer Tatneft is set to mandate banks this week for a $2 billion pre-export financing revolver.

The deal is split between a three-year, a five-year, and a seven-year tranche.

Banks are waiting to discover who will be mandated to arrange the first two tranches. Sberbank’s name is already attached to the seven-year tranche, but this could still change according...


Poll

Credit insurers have withstood the crisis admirably settling a high number of claims during 2009. If you are actively involved in trade transactions what percentage of your deal book now enjoys some political or credit risk cover from private insurers?

75% to 100%
33%
50% to 75%
30%
25% to 50%
9%
25% or less
10%
I don’t use private credit insurers
18%

Quote

You ignore LCs at your peril as a trade bank.

Mark Evans, ANZ - Banks examine the bigger trade picture - April 2010