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Trowers & Hamlins’ Oman office advises on RO130 million financing

Trowers & Hamlins’ Oman office advises on RO130 million financing

Trowers & Hamlins has acted as legal adviser to the lenders on a fully syndicatable RO130 million (USD338 million) facility agreement.  This is one of the largest corporate borrowings in Oman in recent times.

The firm worked closely with bank muscat SAOG (the Arranger and Agent for the facility) to prepare the documentation on a tight time frame.  The facility will allow the borrower, Renaissance Services SAOG, a multinational company listed on the Muscat Securities Market which provides services to the oil and gas industry, to complete the second and final phase of its refinancing programme.

The lenders include bank muscat SAOG, National Bank of Oman SAOG, Oman Arab Bank SAOC, Bank Sohar SAOG, Bank Dhofar SAOG and Ahli Bank SAOG).

Partner Roger Clarke led the Trowers team with support from Riza Ismail and Andrew Slucky.