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Renaissance

Renaissance unit prices $350m debut bond

Topaz Marine, a unit of Oman's Renaissance Services, priced its $350 million debut bond, a statement from the parent firm said on Sunday, in a rare high-yield transaction from the Gulf  region. The five-year offering carr

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Oman's Renaissance unit to price $350m bond

Topaz Marine, a unit of Oman's Renaissance Services, is expected to price its debut $350 million bond on Friday after releasing initial price guidance for the debt offering, a document from lead managers said. The bond, which

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Renaissance unit hires banks for $350m bond

Topaz Energy and Marine, a subsidiary of Oman's Renaissance Services, has hired Goldman Sachs, HSBC and Standard Chartered to arrange a five-year $350 million bond offering, sources close to the deal said on Monday. Goldman Sa

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5 new five-star hotels set to open in Bahrain

Hundreds of millions of dinars are being invested in Bahrain's tourism industry with five new luxury hotels set to open in the next six months, a report said. Adding to the 14 already in existence, they are all expected to be

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Renaissance sells unit to UK Interserve for $46m

Oman's Renaissance Services has sold its oilfield maintenance services unit Topaz Oil and Gas, based in the United Arab Emirates, to Interserve for $46 million, a bourse filing said on Sunday. The UK-based support services and

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Topaz signs first phase of $330m debt plan

Topaz Energy and Marine, a unit of Oman's Renaissance Services, has signed the first phase of a $330 million refinancing loan agreement with banks, its parent said in a statement to the bourse on Sunday. UAE-based Topaz, appointed bank

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Renaissance plans $104m convertible bond

Oman's Renaissance Services said on Tuesday it will ask shareholders to approve plans for a 40 million rials ($103.9 million) offering of zero coupon convertible bonds. The approval will be sought at a shareholder meeting on March 25, the

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Renaissance profit slumps 93pc on Topaz charge

Oman's Renaissance Services on Tuesday reported a 93 percent drop in its annual profit for 2011 after taking a writedown from a subsidiary and as operating expenses rose. Renaiassance 2011 net profit was 2.29 million rials ($5.95 million)

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Topaz launches $380m financing initiative

UAE-based Topaz Energy and Marine, a leading oilfield services multinational and subsidiary of Renaissance Services, has launched a US$ 380 million financing initiative. The initiative, led by Standard Chartered Bank and DVB Bank, will inv

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Renaissance defends disclosure delay

Omani group Renaissance Services defended itself against investor anger over late disclosure of troubles at its Topaz unit and said it will meet its short-term commitments as it focuses on turning around its troubled engineering unit.  &

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