Interfax quoted a source at an American investment bank said Lukoil is planning to offer Eurobonds in the next few weeks to refinance a bridge loan taken out almost a year ago to finance the purchase of a stake in the ISAB refinery in Italy.

The source said the oil company had been planning a bond issue for a while and held a road show in the summer but a poor market situation stopped it. The market has now improved.

Royal Bank of Scotland and Barclays Capital could arrange the placement.

LUKOIL Finance Limited raised the three year loan of USD 280 million at 5.4% per annum in November last year.

(Sourced from Interfax)