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English news

23-Mar-2016

Oman's Bank Muscat in talks to raise loan worth up to USD300mn

Bank Muscat is speaking to a small group of lenders about raising a loan, sources with knowledge of the matter told Reuters, as Oman's largest lender becomes the latest Gulf bank to seek fresh funds to combat a liquidity squeeze in markets. Bank Muscat is negotiating with around 4-5 lenders about raising a loan, according to three sources who spoke on condition of anonymity as the information isn't public.  While details including the size, tenor and pricing of the loan still to be determined, it was expected to be in the range of USD250 million and USD300 million and would last for between two and three years. Bank Muscat declined to comment.  (Reuters)

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