Abu Dhabi-based Dolphin Energy is close to agreeing a refinancing for a $3.45 billion (Dh12.6bn) loan that matures in July, banking sources close to the deal said.
The new loan, for which Royal Bank of Scotland is advising, will include a $1.6bn commercial tranche and a $500 million Islamic facility, while there will also be a bond issue worth around $500m, the sources added.
The 10-year loan facility will carry a margin of 275 basis points (bps) over Libor for the first three years, 300 bps to year six and then 350 bps thereafter, one of the sources added.
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