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Monday, 24 July 2017

UAE's Adnoc in talks with banks for big syndicated loan, project bond: sources

UAE's Adnoc in talks with banks for big syndicated loan, project bond: sources:

"State-owned energy giant Abu Dhabi National Oil Co (Adnoc) is in talks with regional and international banks to obtain a syndicated loan worth several billion U.S. dollars, banking sources familiar with the discussions said on Monday. The loan will be "huge", two bankers said; a third said it was expected to be in a range of $4 billion to $5 billion. The facility would have various maturities of up to five years. The loan financing is one of a number of fund-raising plans which the company is considering. It is also discussing the possibility of issuing a project bond that could be as large as $3 billion in size, bankers said, declining to be named because of commercial sensitivities."



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