TNK-BP Seeks To Borrow $1 Billion In New Debt This Year

30th Jun 2010 14:05

MOSCOW (Dow Jones)--Anglo-Russian oil joint venture TNK-BP Ltd., part-owned by BP Plc (BP), Wednesday confirmed plans to tap markets for up to $1 billion by the end of the year, the company's Chief Financial Officer Jonathan Muir said. The company said in March it may borrow between $700 million and $1 billion in 2010, but not through a Eurobond. At the beginning of the year, TNK-BP--owned on a 50-50 basis by BP and a group of Russian businessmen--issued Eurobonds, raising $1 billion from a two-part bond offering. -By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495 232 9197; [email protected] (END) Dow Jones Newswires June 30, 2010 09:05 ET (13:05 GMT)