According to information obtained from negotiators, now that the Dutch bank ING and France's Societe Generale have withdrawn from the pool of creditors, the loan, initially put at $600 million, will be cut down to $400-$500 million, the British national broadsheet says.
Originally, it was planned that the creditor pool would be comprised of Citigroup Inc., ING Group NV, and Societe Generale SA. According to The Financial Times, the latter two banks have now pulled out, citing concerns over the Yukos affair.
The loan, to be signed sometime next week, will be granted against TNK-BP's future oil export revenues, the newspaper says.
"In any case, the loan will be received in full," the source told RIA Novosti. But no formal documents on the deal have been signed so far, he added.
TNK-BP officials have not been available for comment.
Experts interviewed by RIA believe the company will have no difficulty attracting the loan while also expressing surprise at the fact that high-profile international banks spread around confidential information.
