Dubai-based oilfield services firm Topaz Energy and Marine has secured a $550 million conventional and Islamic multi-tranche loan. (Photo courtesy: Topaz)
UAE’s Topaz says secures $550 mln loan to refinance debt, expand
HSBC, Emirates NBD, Noor Bank, Gulf International Bank and First Gulf Bank were lead arrangers on the deal
Dubai-based oilfield services firm Topaz Energy and Marine has secured a $550 million conventional and Islamic multi-tranche loan, it said on Thursday.
Standard Chartered, HSBC, Emirates NBD, Noor Bank, Gulf International Bank and First Gulf Bank were lead arrangers on the deal, according to a statement from the company.
The loan consisted of three portions lasting between five and seven years, with proceeds used to refinance existing debt and fund its expansion plans.
