Renaissance secures $100m in funding

02 August 2010

Renaissance Services, the parent company of Dubai-based marine and engineering company, Topaz Energy and Marine, has secured two syndicated term loan facilities for $50m each from a cluster of Oman's banks. The funding facilities will be used to meet the company's investment plans primarily in its offshore support vessel (OSV) operations, Renaissance said. The firm announced in March it is to invest $1.3bn in primarily its offshore support vessel operations.

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