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FINANCIAL NEWS
Bank Muscat raises USD500mn syndicated loan
26 Feb 2017
(MENAFN) Bank Muscat, Oman’s major bank by assets is raising almost USD500mn through a syndicated loan, as proclaimed banking sources familiar with the situation.
Furthermore, the three-year loan refinances USD600mn facility maturing in March, which the Omani lender raised in 2014.
In addition, the bank’s refinancing facility provides an all-in pricing of 170 basis points over the London Interbank Offered Rate, which covers a 1.55pct interest margin surplus.
Recently, Bank Muscat raised USD315mn, three-year facility in May of 2016, which offered an all-in pricing of 200 basis points.
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