Dubai’s ENOC gets clubbed loan for £1.2bn takeover
Dubai’s Emirates National Oil Company (ENOC) is using a loan from National Bank of Dubai and Standard Chartered to back a £1.15bn cash takeover of Dragon Oil, announced on Monday morning. But in a sign that lenders are still wary of underwriting deals for the emirate’s borrowers, the facility was clubbed and will not be syndicated.
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