Bank ABC to arrange $250m loan for Sohar

MANAMA: Bank Sohar has mandated Bahrain-based Bank ABC as the sole bookrunner and initial mandated lead arranger for a $250 million three-year syndicated term loan facility.

A statement said, the facility will be used by Bank Sohar for general funding purposes.

Ahead of general syndication Abu Dhabi Commercial Bank, Axis Bank and Commerzbank Aktiengesellschaft have committed to join the facility as initial mandated lead arrangers.

General syndication is expected to close by end of May.

Bank Sohar is a leading corporate and retail bank in Oman, headquartered in Muscat.

Source: http://www.gdnonline.com/Details/201724