Oman Oil to raise $850 million revolving loan – sources | Reuters

Oman Oil to raise $850 million revolving loan – sources | Reuters:

State-run Oman Oil Co is set to raise an $850 million (£652 million) revolving credit facility, sources familiar with the matter said.

The unsecured loan will be provided by a consortium of more than 10 banks and will be finalised over the next few weeks, the sources said.

Oman Oil has been a regular borrower of U.S. dollar-denominated loans over the past few years, in line with a wider push by the Omani government to raise external funding to reduce pressure on its finances, strained by a slump in oil prices.