10 June 2019
Dubai-headquartered oil and gas company ENOC Group announced on Monday that it has secured a five-year $690 million term loan from a consortium of Chinese banks to cater for general corporate purposes.

The consortium consisted of Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China and China Construction Bank (CCB) - China's top three banks in terms of size, assets and profits, ENOC said in a press statement.

ICBC, the largest bank in the world by total assets and net profit, has been appointed as the facility agent for the deal and has structured the transaction, the statement added.

(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)


Our Standards: The Thomson Reuters Trust Principles

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

For more data, analytics, tools and news on projects in the Middle East visit the Thomson Reuters Projects portal

© Thomson Reuters Projects News 2019