IPIC $5bn loan gains momentum

Abu Dhabi’s International Petroleum Investment Company (IPIC) is pressing ahead with plans to come to market with a $5bn acquisition facility, as 10 to 12 banks are understood to be involved in the deal at the senior level. The facility is likely to be launched into a wider syndication, according to bankers involved in the talks. Read on for more information about the deal’s structure and its timing.