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Lukoil – pre-export financing

26 March 2010

The return of the Russian oil majors

MLAs: Barclays Capital, BTMU, BNPP, Calyon, Deutsche Bank, CGML, ING Bank, Natixis, OrgresBank, RBS, Société Générale and WestLB 
Borrower: Lukoil
Amount: $1.2 billion
Tenor: 3-years
Lawyers: Lovells; Akin Gump Strauss Hauer & Feld

This deal marks Russian oil producer Lukoil’s return to pre-export finance for the first time since 2003, after years of reliance on unsecured bank debt and the Eurobond market. The deal was a landmark transaction that demonstrated a return of appetite for Russian risk in the international markets and attracted a core group of Lukoil lenders in a club deal which raised...


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