LONDON May 25 Intesa Sanpaolo has
formally launched a process to syndicate the loan it provided to
fund the purchase of a 19.5 percent stake in Russian energy
giant Rosneft by Glencore and a Qatari
sovereign wealth fund, according to a banking source familiar
with the matter.
Intesa provided a 5.2 billion euro ($5.83 billion) loan to
Glencore and the Qatar Investment Authority late last year, but
is now trying to spread its risk.
The head of Intesa's Russian business, Antonio Fallico, said
in February that it was speaking with 14 banks about syndicating
the loan, with the aim being to choose two or three to take on
2.5-3 billion euros of the debt.
A spokesman for Intesa declined to comment.
($1 = 0.8919 euros)
(Reporting by Dmitry Zhdannikov; Writing by Rachel Armstrong;
editing by Simon Jessop)