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FINANCIAL NEWS
Oman’s PDO raises global loan at USD 3.4bn
02 Jun 2016
(MENAFN) Petroluem Development Oman (PDO) confirmed a USD 3.4bn loan with HSBC acting as the sole global financial adviser.
Accordingly, the firm will raise a global loan to fund its operations in response to the recent low oil price environment.
Meanwhile, the five year pre-export finance facility was launched with 10 global banks, but due to strong interest, the borrower is extending the syndicate.
Moreover, over 20 banks have been approached in general syndication, while Total and Partex Oil and Gas is predcited to raise more than USD 1bn.
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