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.
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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).
