The five participants in the syndication of the $700 million, 14-year debt facility for Oryx GTLsigned commitments in mid-May. A total of $90 million was raised - a success given the $75 million target set by the three bookrunners, Arab Petroleum Investments Corporation (Apicorp), Gulf International Bankand Credit Agricole Indosuez. The strength of the transaction is underlined by the formation of a 15-strong lead arranging group last autumn, which started with tickets below their original hold targets (MEED 25:10:02).
The five to join the transaction in syndication are ANZ Investment Bank, which is taking $30 million, Doha Bankand Commercial Bank of Qatar, with $20 million each, and First Gulf Bankand Ahli United Bank, with $10 million each. There is still a possibility of a further $10 million to come from Die Norddeutsche Landesbank (MEED 4:4:03).
Royal Bank of Scotland is acting as financial adviser (MEED 21:2:03; 7:2:03).
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