Support The Moscow Times!

TNK-BP Gets Loans

TNK BP said Wednesday that it signed up for $2 billion of loans with a group of 16 banks.

The three-year deal is the largest debt transaction ever done by the firm.

Proceeds will be used to finance the 2010 business plan and for additional financial flexibility, the company said.

TNK-BP said it agreed to pay interest of 1.75 percentage points more than the London interbank rate on the financing, which is comprised of two $1 billion portions.

(Bloomberg)


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.