The consignment of a consortium loan Qatar Gas Transport is seeking $ 1 billion in a $ 1 billion, according to a Bloomberg report, including the growing stream of Middle Eastern borrowers turning to Asian banks to broaden their sources of funding beyond domestic markets.
According to a source that is aware of the issue, the five -year agreement is managed exclusively by the Asian bank, Mizuho Bank, as the only authorized Mr. Ombudsman and Administrator. The consortium loan agreement includes a Greenshoe option, which allows an additional $ 330 million to increase the size, the source said.
The loan, which will be allocated to the wider market, has an interest rate of 82 basis points above the Secure Overnight Financing Rate (SOFR) reporting rate, while revenue will be used for general corporate purposes. Qatar Gas, better known as Nakilat, did not immediately respond to a request for comment.
Nakilat follows the tendency to borrow from the Middle East, already involved in big Gulf states, such as Saudi Investment Bank ($ 750 million) and Saudi Electricity ($ 1 billion).
The company is expanding its liquefied natural gas fleet, as part of Qatar’s strategy to strengthen its position as a leading supplier of clean energy worldwide, according to local media. Last month, she concluded her first financial agreement with the Export-Simport Bank of Korea for the construction of 25 LNG Korean construction.