Fortune Oil returns for $400m loan after two years

Oil pipeline 230x150
By Pan Yue
26 Jul 2018

Fortune Oil PRC Holdings has returned to the offshore loan market for a $400m borrowing, refinancing a smaller deal closed in 2016.

UBS is the sole mandated lead arranger and bookrunner. Only Fortune Oil’s existing lenders are invited to join the new deal, according to sources.

The company is paying a margin of 225bp over Libor, 50bp less than its last ...

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