Oman raising up to $2 bln loan with mostly regional banks “” sources
- Date: 12-Jan-2021
- Source: Arab News
- Sector:Financial Services
- Country:Oman
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