PF Archive

Octal Petrochems raises first full market risk Omani project debt

19 11 2007

Omani company Octal Petrochemicals has secured a 10-year $166.5 million loan from Bank Muscat for a plastic packaging plant in the Salalah Free Zone. The financing comprises a $148.5 million term loan, of which $34.5 million was syndicated to Bank Dhofar, and an $18 million working capital facility. The deal completes an initial $316.5 million investment in proprietary technology and production lines by Octal over the past year. The remaining $150 million has been raised in equity, with...