Published: July 23, 2013
Omani oil and gas services group receives RO200.5mn from local and regional banks.
Renaissance Services, an Omani oil and gas services group, has completed a RO200.5mn (US$521.3mn) refinancing programme.
Some RO130mn has been secured with Omani banks including Bank Muscat, National Bank of Oman, Oman Arab Bank, Bank Sohar, Bank Dhofar and Al Ahli Bank.
A further RO70.5mn has been refinanced by Topaz, the company’s marine subsidiary. That refinancing includes RO22.5mn from Gulf International Bank and RO48mn through Islamic financing with Barwa Bank.