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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
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
02/04/2018
Bank Sohar's shareholders attended an Extraordinary General Meeting (EGM) followed by the Bank's Annual General Meeting (AGM) on March 29, 2018 at the Sheraton Hotel in Muscat. The bank's Board of Di
Oman Daily Observer
28/03/2018
Announcing another 43 lucky winners, Bank Sohar held its second monthly prize draw for the Al Mumayaz Savings Scheme 2018 under the auspice of Shaikh Homoud bin Hamed al Wahshi, Wali of Musannah, on
Oman Daily Observer
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10/03/2025
Doha Bank introduced a suite of exclusive offers for NRIs on their Visa Platinum Debit Card, delivering exceptional value across travel, lifestyle, dining, and retail. These carefully curated benefit
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Saudi Gazette
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In an official statement, Bader Al-Ghan
Trade Arabia
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia