Aban taps lenders for $1.5bn loan

Indian Flag 1
By Rashmi Kumar
09 Jul 2013

Aban Offshore, an Indian oil drilling company, is in the market for a $1.5bn loan as it seeks to refinance some of its debt.

SBI Capital Markets is the sole bookrunner, and is targeting only domestic banks at this stage for a standby letter of credit. Once the financing is guaranteed by an SBLC, it will launch into syndication targeting all Asia Pacific lenders, according to a banker.

Syndication is tentatively scheduled ...

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