White & Case and Linklaters lead on first CIS bond offering of 2010
White & Case and Linklaters have lined up on the first Eurobond offering in the Commonwealth of Independent States (CIS) this year. White & Case was instructed by long-term oil client TNK-BP on its $1bn (£6.4m) issuance, providing English, US and Russian law advice. The offering was spilt into two $500m (£320m) issues, with the first a tranche of 6.25% notes due in 2015 and the second a tranche of 7.25% notes due in 2020. The proceeds of the offering will go towards funding investment programmes aimed at building up oil and gas production and reserves.
Russian oil giant’s $1bn issuance hints at capital markets upturn
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