MUSCAT: Bank Sohar has signed a $250 million loan facility with a three-year lifespan, with the proceeds to be used for general funding purposes, according to a Reuters report.
The facility was signed on Tuesday, Arab Banking Corporation said in the statement, adding that it and a further 10 banks from the Gulf, Europe and Asia were the lenders, the report added.
In May, it was announced that the Omani bank was marketing the deal to potential lenders, with the loan paying 120 basis points over the London interbank offered rate (Libor).
