EDO Secures $1bn International Loan
Energy Development Oman (EDO) has completed a $1bn international loan and refinanced its Omani rial loan facilities, extending its debt maturity profile and reducing financing costs.
The five-year $1bn term loan was increased from $750mn due to strong investor demand, with commitments exceeding $1.5bn. Major Asian banks led the allocations, demonstrating EDO's access to international liquidity.
- Proceeds will be used for general corporate purposes ($750mn)
- Prepayment of a portion of EDO's existing $2bn facility due in 2029 ($250mn)
EDO's ability to access diverse pools of international liquidity is highlighted by the loan.
Author's summary: EDO secures $1bn loan for growth.
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