Rosneft continues to pay its debts to the West: loans for purchase of BP-TNK are paid before to the scheduled date

Rosneft continues to pay back its loans for the purchase of BP-TNK. The state-owned company paid another $5.5 billion, which was borrowed from syndicate of international banks, before to the scheduled date. It’s most likely that the company used its own funds for this, as well as almost $600 million, received from sale of its share in Yugragazpererabotka to Sibur. This year, Rosneft has to return about another $15 billion.

Yesterday, Rosneft reported that it paid a part of the loans, taken for purchase of BP-TNK, before  the scheduled date. From the beginning of the year, the company managed to return $5.5 billion. In December of 2013, it reported that it paid $5.1 billion. As Rosneft notes, the current source for the payment “was the optimization of our assets portfolio”. According to the company’s president Igor Sechin, “additional income from the portfolio optimization are used and will be used to reduce the debt burden”.