EDO Secures $1bn International Loan
Energy Development Oman (EDO) has completed a $1bn international loan and refinanced its Omani rial loan facilities, extending its debt maturity profile and reducing financing costs.
The five-year $1bn term loan was increased from $750mn due to strong investor demand, with over $1.5bn in aggregate commitments. More than half of the allocations came from outside the GCC, led by major Asian banks.
- The loan will be used for general corporate purposes ($750mn).
- $250mn will be used to prepay a portion of EDO's existing $2bn facility due in 2029.
Proceeds will be used for general corporate purposes and to prepay a portion of EDO's existing facility, contributing to a smoother debt maturity profile.
This transaction strengthens EDO's position to support future growth by diversifying its lender base and reducing financing costs.
Author's summary: EDO secures $1bn loan for growth.
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