Brief: Tethys Oil Signs $60 Mln Loan Facility Agreement With Abu Dhabi Commercial Bank

Tethys Oil AB

02/08/2024 11:56

Aug 2 (Reuters) - Tethys Oil AB  TETY.ST :
    * TETHYS OIL ENTERS A 5-YEAR $60 MLN LOAN FACILITY AGREEMENT
WITH
ABU DHABI COMMERCIAL BANK
    * PURPOSE OF FACILITY IS TO SUPPORT CAPITAL EXPENDITURE FOR
BLOCKS
3&4 IN OMAN, WHICH ALSO ACTS AS COLLATERAL FOR LOAN.
    * LOAN WILL COMPRISE OF A CREDIT FACILITY OF UP TO MUSD 60
WITH A
12-MONTH AVAILABILITY PERIOD
    * PRIMARY USE OF FUNDS IS CAPITAL EXPENDITURE ON BLOCKS 3&4
IN
OMAN
    * TRANSACTION WAS ARRANGED BY CARLINGFORD, A DIVISION OF GFI
SECURITIES
    * LOAN IS SUBJECT TO CUSTOMARY COVENANTS FOR THIS TYPE OF
FACILITY

Source text for Eikon:  ID:nMFN4cmlKf 
Further company coverage:  TETY.ST 

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