UAE’s Topaz gets USD550m refinance for debt, expansion

01 May 2015

(MENAFN) Topaz Energy and Marine, Dubai’s oilfield services firm, obtained USD550 million conventional and Islamic multi-tranche loan in order to refinance debt and expand its business, Reuters reported.

The finance is set for a period from five to seven years and its lead arrangers are Standard Chartered, HSBC, Emirates NBD , Noor Bank, Gulf International Bank and First Gulf Bank.

The loan has three segments, from which USD350 million are set to repay existing debt.

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