Qatar Petroleum and Exxon Mobil are seeking a syndicated loan worth $4.7 billion from international, regional and local banks, Arabian Business News reports. The companies will use the credit facility to support the Barzan gas project in Qatar. The 16-year amortizing loan is divided between a $2 billion uncovered loan and $2.7 billion of financing from export credit agencies. The Export-Import Bank of Korea, Nippon Export and Investment Insurance and Italian export credit agency SACE are providing covered financing and the direct lending will come from Japan Bank for International Cooperation.
Click here for the story from Arabian Business News.