Oman seeks $3-4 bln in talks to refinance loan - sources | Reuters
Oman is in talks with regional banks to refinance a $2.2 billion loan it took out early last year, seeking to increase its size to between $3 billion and $4 billion, two sources familiar with the matter said.
The loan taken out in February last year has a 15-month tenor with a one-year extension option at the borrower's discretion, two other sources said previously.
Oman was originally seeking up to $1 billion with last year's loan but more than doubled its size due to strong appetite from banks.
Despite the extension option, Oman is trying to refinance the loan with better terms.
Pricing talk for the refinancing is around 350 basis points over LIBOR, one of the sources with knowledge of the matter said. The original loan's all-in pricing, including fees, was between 375 and 390 basis points over LIBOR.
No comments:
Post a Comment