Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
Oman’s state-led Petroleum Development Oman (PDO), the Sultanate’s key oil and gas producer, has demonstrated its commitment to continued investment by securing a $4bn international loan facility – it’s first ever.
PDO confirmed the finalization of terms for the five-year loan from 10 banks on 29 June. HSBC was sole international adviser. The five-year pre-export facility is priced at 160bp over Libor – currently the equivalent of 2.6%/year. PDO initially planned to raise around $2.5bn, but amid strong demand the facility was oversubscribed to $4.3bn and PDO raised the ceiling to $4bn.
The funds are intended to be invested in major new oil and gas facilities.
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?
By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.UPGRADE