Qatar Petroleum will pay an interest rate of 2.19 percentage points over Libor for $3.34 billion in bank loans to help finance the Barzan natural-gas project, Finance Director Abdul Rahman Al Sheebi said.
Qatar Petroleum, the Gulf country’s state-run energy company, said on Dec. 13 it had completed financing arrangements for Barzan with a $7.2 billion syndicated loan. The project will be funded with as much as 30 percent equity, while banks together with export credit agencies from Japan, Korea and Italy will provide debt, the company said at the time in an e-mailed statement.
Interest on the bank-loan component will be charged at the spread over Libor, or the London interbank offered rate, Al Sheebi said today in Mesaieed, Qatar.
Qatar Petroleum, the Gulf country’s state-run energy company, said on Dec. 13 it had completed financing arrangements for Barzan with a $7.2 billion syndicated loan. The project will be funded with as much as 30 percent equity, while banks together with export credit agencies from Japan, Korea and Italy will provide debt, the company said at the time in an e-mailed statement.
Interest on the bank-loan component will be charged at the spread over Libor, or the London interbank offered rate, Al Sheebi said today in Mesaieed, Qatar.
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