Oman Oil Co, the Omani state-run petroleum firm, has mandated a group of regional and international banks to arrange a $1.2 billion revolving credit facility, banking sources said on Tuesday.
The loan would refinance a $1 billion revolving facility which the company obtained in 2014 and which is due for redemption this year. That loan was the shorter-dated tranche of a $1.85 billion revolving credit facility, which also included a five-year, $850 million tranche.
The new revolver would have a five-year maturity and be provided by banks including Barclays, Bank of Tokyo-MitsubishiUFJ, Credit Agricole, Deutsche Bank, First Abu Dhabi Bank, HSBC, Natixis, Societe Generale, Standard Chartered and SumitomoMitsui Banking Corp, the sources said.
Oman Oil is expected to sign the loan facility in June, said the sources, who declined to be named because the matter is notyet public. Telephone calls and an email to Oman Oil’s chief financial officer seeking comment were not answered. Read more
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