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FINANCIAL NEWS
Oman Oil signs USD1.85b RFC pact
08 Sep 2014
(MENAFN) Oman Oil Company (OOC), the Sultanate’s energy investment arm, has signed a USDS1.85 billion Revolving Credit Facility (RCF) agreement worth with 16 local, regional and international banks, Times of Oman reported.
The RCF will be available as either a $1 billion three-year facility or as an $850 million five-year facility, and will be used for general corporate purposes in line with OOC’s growth strategy.
“This transaction signifies the confidence of the financial community in the solid track-record achieved by OOC and its group of companies, as well as the Sultanate’s growing and stable economy. With over 40 assets in 15 countries, OOC continues to drive economic diversification and growth,” OOC said in a statement.
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