Oil Report

RLPC-Russia's TNK-BP seeks $315 mln loan

LONDON, April 21 (Reuters) - Russia's third-largest oil producer TNK-BP TNBPI.RTS has mandated Calyon, Deutsche Bank, ING and Bayerische Hypo-und Vereinsbank as bookrunners to arrange a $315 million loan, the lenders announced on Tuesday.

TNK-BP signed a $150 million loan on Dec. 19, 2008, with Calyon and Deutsche Bank, and the subsequent addition of another two bookrunners pushed the loan amount to $315 million.

Syndication will be used to increase the deal further from $315 million.

The loan has a three-year maturity and pays a margin of 400 basis points (bps) over LIBOR.

Commitments are due mid-May, with banks expected to sign into the facility and fund by the end of May.

The deal is structured as a secured pre-export financing to provide extra security for lenders.

The borrower is JSC TNK-BP Holding under the guarantee of TNK-BP International Ltd. (Reporting by Christopher Mangham, editing by Will Waterman)