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FinancialNews
17-03-17
Omani sovereign wealth fund to finish USD600mn loan
(MENAFN) Omani sovereign wealth fund Oman Investment Fund will complete syndication of USD600mn loan needed for the acquisition of the ministry of finance's shares in Oman Telecoms Co.
Moreover, the USD600mn, five-year loan offers lenders a margin of 230 basis points over the London Interbank Offered Rate plus bank fees starting at 60 bps over Libor.
Additionally, the sovereign fund would use the money to back the acquisition of a 51 percent share in Omantel.
The acquisition aims to enhance efficiency and generate higher profitability for the firm, while the firm would pass from an absentee landlord to an active landlord.
MENAFN1703201700450000ID1095319617
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