Socar Trading scores $300m despite downgrade

Centrica 230x150 Morcambe Bay Offshore
By Bianca Boorer
02 Oct 2017

The international distribution arm of the State Oil Company of Azerbaijan (Socar) has signed a $300m loan with 15 lenders despite a recent downgrade.

The loan, which was initially launched at $200m, was increased due to oversubscription. It has a tenor of one year and a margin of 190bp over Libor.

BNP Paribas, Crédit Agricole, ICBC, ING, MUFG and Rabobank were mandated lead arrangers and bookrunners. Rabobank ...

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