Sohar refinery syndication launch approaches

03 October 2003
Syndication is now expected in the first week of October of the commercial debt package for Sohar Refinery Company. The launch had been set for 15 September but finalisation has taken slightly longer than expected.

Syndication of the 14-year, $647 million facility is expected to attract mainly regional banks as eight international banks came on board at the lead arranging stage (MEED 29:8:03).

The lead arrangers are Arab Bank, ANZ Investment Bank, Bank of Tokyo-Mitsubishi, BNP Paribas, Credit Agricole Indosuez, Gulf International Bank (GIB), HSBC, Mizuho Financial Group, Societe Generale and Sumitomo-Mitsui Banking Corporation (MEED 13:6:03). Tickets are expected to range in size from $30 million to $10 million and fees at the top end will be in the 100-110-basis point range (MEED 1:8:03).

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