Israel’s Ratio Oil refinances bank debt with new $650 million loan By Reuters


© Reuters.

TEL AVIV (Reuters) – Israel’s Ratio Oil Exploration (TA:) said on Monday it refinanced its bank debt with a new seven-year dollar loan of $650 million.

The loan, bearing interest of LIBOR plus 3.5%, is provided by a consortium of eight banks, including HSBC Plc, BNP Paribas (OTC:), ING Bank NV, Natixis, Société Générale, Nedbank, Mizrahi Tefahot, and Hapoalim.

Ratio is planning to withdraw $480 million in the first stage, which it will use to repay a $450 million loan it took to fund the company’s share in the development of the first stage of the Leviathan field off Israel’s Mediterranean coast.

It will use the remaining loan for the future development of Leviathan, which started production at the end of 2019.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*