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Bank Sohar launches $250m 3-year debut loan

DUBAI, May 24, 2015

Oman's Bank Sohar has invited banks to participate in a $250 million debut loan to fund its general business activities, with the marketing of the deal expected to close by end of June, the arranger of the facility said on Sunday.

The bank, which is in talks about a possible merger with larger rival Bank Dhofar, will raise funds with a three-year lifespan and will pay a margin of 120 basis points over the London interbank offered rate (Libor).

Bank Sohar has picked Arab Banking Corporation as the sole arranger and bookrunner for the loan syndication, Arab Banking Corporation said in a press statement on Sunday. – Reuters




Tags: Oman | loan | Bank Sohar |

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