Bank Muscat signs USD525mn syndicated loan agreement
Bank Muscat, Oman’s largest bank by assets, has signed to obtain a USD525mn syndicated loan, banking sources said. The three-year facility pays an all-in 170 basis points over the London Interbank Offered Rate, comprising a margin of 155 bps plus 45 bps of bank fees spread over three years. Part of the proceeds of the loan, which was coordinated by Bank ABC and National Bank of Abu Dhabi, will repay a USD600mn, three-year debt facility which the Omani lender raised in 2014.
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