PTTEP set to sign $300m club
Thailand’s state-owned energy company PTT Exploration and Production Public Corp (PTTEP) is working on the documentation for a $300m club deal, and plans to sign the loan in the middle of next month. Bank of Tokyo-Mitsubishi UFJ, Mizuho and Sumitomo Mitsui Banking Corp are lending $300m for five years, earning an all-in return of around 215bp over dollar Libor, said loans bankers.
The company had hoped to raise around $500m from the loan, but is getting commitments of around $100m from each of the three Japanese banks. PTTEP has other options to find the remaining $200m.
The company could turn to the international bond market for cash, following a swathe
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