Rosneft Cancels Sale of Dollar-Denominated Bonds, Bankers Organizing Say

(Bloomberg) -- OAO Rosneft, Russia's biggest oil
producer, canceled its plan to sell dollar-denominated bonds,
according to bankers organizing the offering who asked not to be
identified because the decision hasn't been publicly disclosed.

Moscow-based Rosneft had hired ABN Amro Holding NV,
Barclays Capital, Citigroup Inc. and Morgan Stanley to arrange
the sale, according to an e-mailed statement sent by Morgan
Stanley on July 4. BNP Paribas SA, Calyon, JPMorgan Chase & Co.
and Goldman Sachs Group Inc. were also organizing the sale.


Read more at Bloomberg Bonds News

Wesfarmers Seeks Australian Record $8.6 Billion Loan for Coles Takeover

(Bloomberg) -- Wesfarmers Ltd. is seeking a A$10
billion ($8.6 billion) loan to fund its takeover of Coles Group
Ltd., the largest borrowing by an Australia-based company.

Wesfarmers, the nation's biggest home-improvement chain,
hired Australia & New Zealand Banking Group Ltd., BNP Paribas SA
and National Australia Bank Ltd. to arrange the loan, according
to a statement today from the banks. The bid values Coles at
A$19.1 billion based on today's share price.


Read more at Bloomberg Bonds News

France's CAC 40 Index Drops, Paced by Sanofi-Aventis, BNP Paribas Shares

(Bloomberg) -- French stocks declined, led by
Sanofi-Aventis SA and BNP Paribas SA.

The CAC 40 Index retreated 27.77, or 0.5 percent, to
5912.32 at 9:19 a.m. The SBF 120 Index slipped 0.4 percent.


Read more at Bloomberg Stocks News

European Stocks May Drop on Bond Yields; BP, Rio Tinto May Decline

(Bloomberg) -- European stocks may decline for a
fifth day, the longest rout in three months, after rising bond
yields weighed on equities in the U.S. and Asia.

BP Plc and Total SA may fall after crude oil dropped from a
nine-month high. Rio Tinto Group may lead mining shares lower
after copper slid in Asia. BNP Paribas SA may pace advancing
shares after Les Echos reported Societe Generale SA is studying a
possible bid for its larger banking rival.


Read more at Bloomberg Stocks News

India Infrastructure to Borrow $500 Million in Its First Overseas Loan

(Bloomberg) -- India Infrastructure Finance Co., the
state-owned lender that set up a fund with Blackstone Group LP and
Citigroup Inc., plans to borrow $500 million from a group of banks
in its first overseas loan.

The New Delhi-based company has hired BNP Paribas SA, Calyon
and Standard Chartered Plc to raise the 10-year, government-
guaranteed loan, said S.S. Kohli, chairman and managing director
at India Infrastructure. It will use the funds to finance roads,
airports, power plants and other infrastructure projects in the
South Asian nation.


Read more at Bloomberg Bonds News

Euro May Fall Against Pound, Technical Chart Suggests, BNP Strategists Say

(Bloomberg) -- The euro will probably reverse gains
against the U.K. pound, according to a technical indicator, and
as traders reduce bets on its appreciation, currency strategists
at BNP Paribas SA said.

The currency used by the 13 euro-region nations faces
resistance versus the pound, where sell orders may be clustered
at 68.07 pence, then 68.17 pence and 68.25 pence, according to
charts traders use to predict price movements, said Hans Guenter
Redeker, head of currency strategy in London at BNP in a note to
clients.


Read more at Bloomberg Currencies News