Abu Dhabi IPIC seeks US$1b loan to secure stake in Oil Search

Abu Dhabi government-owned International Petroleum Investment Co (IPIC) is looking to secure a US$1 billion, three-year loan to back its purchase of a 17.6% stake in Oil Search Ltd, banking sources close to the deal said on Wednesday Jan 28.

Deutsche Bank is leading the club loan and banks are being invited to commit US$150 million to join as bookrunners and mandated lead arrangers. The margin is around 300 basis points over LIBOR, one of the bankers said.

Abu Dhabi government-owned International Petroleum Investment Co (IPIC) is looking to secure a US$1 billion, three-year loan to back its purchase of a 17.6% stake in Oil Search Ltd, banking sources close to the deal said on Wednesday.

Deutsche Bank is leading the club loan and banks are being invited to commit US$150 million to join as bookrunners and mandated lead arrangers. The margin is around 300 basis points over LIBOR, one of the bankers said.

 

Category: ResourceAsia