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Rosneft board approves $14.2 bln loan for TNK-BP deal

Wed, 13th Feb 2013 10:31

MOSCOW, Feb 13 (Reuters) - Russia's top oil producer Rosneft said on Wednesday its had signed a $14.2 billionfinancing deal to back its purchase of half of TNK-BP from a consortium of Soviet-born billionaires.

Rosneft agreed a deal last year to buy Anglo-Russian oilfirm TNK-BP from its joint owners - the AAR consortium and BP - for $55 billion. In December it raised $16.8 billion inbank loans for the deal.

Earlier this week, banking sources told Reuters that Rosneftwas scheduled to sign a $13 billion syndicated loan to back thedeal.

Rosneft also said on Wednesday, its board agreed to expandcooperation with ExxonMobil without elaborating. Rosneftand Exxon have already agreed to jointly tap hydrocarbondeposits in Russia's Arctic waters and in North America.

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