Oman raising up to $2 bln loan with mostly regional banks “” sources

Oman raising up to $2 bln loan with mostly regional banks “” sources

Oman raising up to $2 bln loan with mostly regional banks “” sources

Oman raising up to $2 bln loan with mostly regional banks “” sources

Oman started talks with banks for a new loan of at least $1 billion in November. (File/Shutterstock)

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Oman raising up to $2 bln loan with mostly regional banks “” sources

Oman started talks with banks for a new loan of at least $1 billion in November

Part of the new loan will refinance a $1 billion debt facility due in January

Updated 12 January 2021

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DUBAI: Oman is looking to raise up to $2 billion with a loan arranged mostly by local and regional lenders, as international banks tread carefully due to the deterioration of its credit profile, sources said.

Oman started talks with banks for a new loan of at least $1 billion in November, sources told Reuters at the time, as it geared up for heavy debt redemptions.

It is now working with a group of banks to raise a $1.1 billion facility which could go up to $2 billion in size depending on market appetite, two sources familiar with the matter said.

The banks leading the deal are HSBC, Mashreqbank, Gulf International Bank, Bank Muscat and Bank Dhofar, said