Credit Suisse First Boston, Merrill Lynch and Schroder Salomon Smith Barney have revived plans to launch a $300m (€304.8m) bond for Tyumen Oil, after the Russian company cancelled a $500m deal in May.

The three banks were appointed lead managers for the original transaction for Tyumen Oil, which is owned by holding company TNK International. However, the five-year deal was pulled, despite attracting strong demand, less than a week after launch when PricewaterhouseCoopers (PwC), TNK's auditor, withdrew its unqualified audit opinion on the group's 2001 accounts.