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Russia's second largest oil producer OAO Lukoil(LKOH.RS) said Monday it has secured a $1.2 billion syndicated pre-export loan with a consortium of international banks.

As Dow Jones Newswires reported in July, the loan will mature in three years and is priced at 400 basis points over Libor.

The company said the funds would be used for general corporate purposes, to refinance existing debt and to fund its oil export operations.

The lead organizers of the loan are ABN Amro NV, Bank of Tokyo Mitsubishi, Barclays Capital (BARC.LN), BNP Parisas SA (BNP.FR), Calyon, Citi (C), Deutsche Bank AG (DB), ING Bank NV, Natexis, Orgresbank, Societe Generale (GLE.FR) and Welst LB AG.

As Dow Jones Newswires reported in April, Lukoil first approached banks in February but it has taken longer to arrange the deal than would traditionally have been the case, given banks' lending constraints and the difficult economic conditions.

In June, Lukoil's Chief Executive Vagit Alekperov said the company wasn't planning to borrow, unless there was an interesting asset to buy.

Apart from OAO Rosneft (ROSN.RS), which borrowed $15 billion from China Development Bank in February, Lukoil's is the only major loan from international lenders to a Russian oil company since the autumn of 2008.

-By Alexander Kolyandr, Dow Jones Newswires; +7 945 937 8445; alexander.kolyandr@dowjones.com