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Oman Gas Company to raise US$1bn bridge loan

Oman Gas Company, Oman Oil Company, Bank Muscat, JPMorgan Chase, Natixis, Sumitomo Mitsui Banking Corporation
The Company is in talks with Bank Muscat, JPMorgan, Natixis, and Sumitomo Mitsui to meet its capex plans

Oman Gas Company is working with a group of banks to raise a bridge loan of US$1bn, Reuters reported.

The banks listed include Bank Muscat, JPMorgan Chase, Natixis, and Sumitomo Mitsui Banking Corporation. According to a close source, the discussion is still at its nascent stages.

The loan is said to have a maturity period of one-year and could be extended to the following year. After the maturity period, the Company will secure more funds for its future capex through dollar bonds.  

The natural gas transport company was purchased by government-owned Oman Oil Gas in 2013.

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