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- AD Ports to set up industrial, logistics park near Port Said
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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
05/05/2025
Sohar International recently celebrated the official inauguration of its branch in Saudi Arabia. The event was held under the patronage of Yazeed Ahmed AlSheikh, Deputy Governor for Supervision, Suad
Muscat Daily
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
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06/05/2025
AD Ports Group, and the General Authority for Suez Canal Economic Zone (SCZONE), the integrated investment destination for linking industry and global trade, have signed a 50-year renewable usufruct
Trade Arabia
06/05/2025
ADNOC Gas on Monday announced net income of $1.27 billion and EBITDA of $2.16 billion for the first quarter of 2025, exceeding the equivalent quarter in 2024 by 7% and 4% respectively.
The p
Khaleej Times
06/05/2025
SABIC, a global leader in chemicals, reported a net loss of SAR1.2 billion ($320 million) for the first quarter of 2025, representing a 36% improvement compared to a net loss of SAR1.9 billion in the
Trade Arabia
06/05/2025
As part of its ongoing commitment to growing and nurturing national talent within the banking and financial sectors, Gulf Bank has successfully concluded the 10th edition of its "Ajyal" program. Span
Kuwait Times
06/05/2025
ZAINIAC, Zain's internal innovation program, has made a strategic investment in Actly, an AI startup founded by Zain Kuwait employee Ahmad Al-Obaid, who will also serve as the entity's CEO. This grou
Kuwait Times
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