The Sultanate of Oman has completed procedures Get a refinance loan With the amount of financing raised to 4 billion dollars and the extension of the debt period, according to what banking sources told Al Arabiya.net.
The sources said that 23 Gulf and foreign banks participated in arranging the loan, led by Abu Dhabi Commercial Banks, First Abu Dhabi Bank, Qatar Commercial Bank, National Bank of Oman, Arab Banking Corporation, Ras Al Khaimah Bank, Umm Al Quwain Bank and Mashreq Bank.
The names of the international banks that participated in the financing process included the US Citi Group, Standard Chartered, JPMorgan and the Spanish Intesa Sanpaolo Group.
According to the sources, the loan, due in March 2029, offers interest rates at 350 basis points above the LIBOR rate.
And last January, sources told Al Arabiya.net that the Sultanate of Oman began procedures for obtaining a loan of about 3.5 billion dollars for a period of 7 years from a coalition of Gulf and local banks, of which the Sultanate plans to use part of its proceeds to refinance a loan of about 2.2 billion dollars. I got it in March before last.
The sources pointed out at the time that the loan includes the option of raising its value to about $4 billion if the need arises, which the Sultanate did in the end to raise the entire funding.