‘First test’ loan for Sonangol as oil price improves

Angola flag px230 for gc
By Mariam Meskin, Mike Turner, Silas Brown
11 Oct 2018

Sonangol, the Angolan national oil and gas company, has mandated Standard Chartered to arrange a term loan after a two year absence from the market.

One loan banker said Sonangol usually takes dollar term loans with an amortising structure, which he thought likely to be the structure of the new loan.

“It is still early days, but this is the first test for the borrower since the oil price has improved,” he said.


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