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Russia's TNK-BP sets guidance for two-tranche benchmark-sized bond issue
By Aaron Hochman-Zimmerman
New York, Oct. 2 - TNK-BP plans to sell a benchmark-sized issue of five- and 10-year bonds (Baa2/BB+/BBB-), according to an informed source.
Guidance has been set at Treasuries plus 345 to 360 basis points for the five-year tranche and at Treasuries plus 350 to 365 bps for the 10-year tranche.
Credit Suisse and UBS will act as bookrunners for the Rule 144A and Regulation S deal.
Pricing is expected Wednesday.
The privately owned oil company is based in Moscow.
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