Top Russian independent oil producer Lukoil is set to launch a new eurobond issue once an investor roadshow in Europe and the US ends on Wednesday, making it the first Russian non-state firm to brave the eurobond market since the financial crisis took hold. Lukoil declined to comment on the forthcoming issue, which was given provisional satisfactory ratings of BBB- and Baa2 by Fitch and Moody's respectively. The amount the company is seeking to raise is also unknown but observers speculate it would be at least $500 million and split into two tranches - one in dollars and the other in euros. Barclays Capital, ING and the Royal Bank of Scotland are said to have been mandated by Lukoil to organize the dollar bond.
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