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- China's Sinopec Signs Joint Venture Agreement with Saudi Aramco Worth $4 Billion
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17/01/2018 06:08 AST
Bank Sohar is raising a $300 million, three-year syndicated loan with a margin of 2 per cent a year over the London interbank offered rate (Libor), banks leading the deal said.
The loan offers participating banks fees of up to 75 basis points (bps), sources close to the matter said.
Arab Banking Corporation and Commerzbank have fully underwritten the loan and are arranging the loan syndication as initial mandated lead arrangers and bookrunners.
Axis Bank was also hired as initial mandated lead arranger before the launch of the syndication.
Bank Sohar completed its latest syndicated loan in June last year, raising a $250 million, three-year facility, which also offered a margin of 2 per cent over Libor.
The new loan offers lenders fees of 75 bps for a minimum commitment of $25 million, 60 bps for a minimum commitment of $15 million and 45 bps for a minimum commitment of $10 million, the sources said.
The loan was launched in the market on Jan. 11, the banks arranging the loan said in a statement last week.
Bank Sohar, rated Baa3 by Moody's and BB+ by Fitch, would use the funds for general corporate purposes, the statement said.
Bank Sohar posted a full-year net profit after tax of OMR25.5 million ($66.24 million) in 2017, up from OMR19.1 million a year earlier.
Times of Oman
08/04/2025
Sohar International Bank on Monday announced its intention to explore a potential merger with Ahlibank.
In a meeting held by its board of directors, Sohar International resolved to send a le
Muscat Daily
26/02/2025
The Board of Directors of Sohar International Bank on Wednesday announced the appointment of Abdul Wahid Mohamed al Murshidi as new Chief Executive Officer, effective immediately.
Murshidi h
Muscat Daily
02/04/2018
Bank Sohar's shareholders attended an Extraordinary General Meeting (EGM) followed by the Bank's Annual General Meeting (AGM) on March 29, 2018 at the Sheraton Hotel in Muscat. The bank's Board of Di
Oman Daily Observer
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29/04/2025
China's state-run Sinopec said on Monday it had signed an agreement with a unit of Saudi Aramco to establish a joint venture company aimed at operating ports, transporting crude oil, and providing ot
Asharq Al Awsat
29/04/2025
Gulf Bank has officially released its Fifth Annual Sustainability Report for the year 2024, titled "From Vision to Execution", highlighting the Bank's advancements in sustainability in line with Kuwa
Kuwait Times
29/04/2025
In an interview with CNBC International, Shaikha Al-Bahar, Deputy Group Chief Executive Officer of National Bank of Kuwait (NBK) affirmed the Group's commitment to maintaining excellence and fosterin
Kuwait Times
29/04/2025
Borouge today announced a series of strategic asset expansion projects to accelerate its growth, contributing annually between $165 million and $200 million (AED600 million - AED730 million) in EBITD
Trade Arabia
29/04/2025
Saudi developer Emaar, The Economic City has signed final agreements with four local banks to reschedule SR3.39 billion ($904 million) in existing debt and secure a new credit facility.
In a
Arab News
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