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Wednesday, 19 July 2017

Oman Oil to close $1 billion PXF loan imminently - source

Oman Oil to close $1 billion PXF loan imminently - source:

"State-owned Oman Oil expects to close imminently, within two months at the latest, a pre-export financing (PXF) loan of around $1 billion, a source close to the matter told Reuters.

The petroleum firm has hired Natixis and Societe Generale to lead the debt transaction, which is being marketed to other lenders. The loan is in the region of $1 billion, but the final size could be larger, the source added.

In PXF loans, which are often used by commodity producers, the borrower raises funds based on confirmed orders for its production. Another Omani government-controlled company, Petroleum Development Oman, raised in June 2016 a $4 billion loan with a similar structure."

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