By Reuters Staff
2 Min Read
KUALA LUMPUR, March 30 (Reuters) - Malaysia’s largest oil and gas services provider Sapura Energy on Tuesday said it has refinanced 10.3 billion ringgit ($2.48 billion) of its debt for a period of seven years.
The company said the refinancing includes an $820 million term loan facility to be offered by banks in U.S. dollars and Malaysian ringgit, and the issuance of unrated sukuk murabahah for the remaining amount.
“The refinancing exercise and previously announced 1.2 billion ringgit working capital provides us timely financial headroom in a recovering energy market,” Sapura Chief Executive Officer Mohd Anuar Taib said in a statement.
By Reuters Staff
2 Min Read
DUBAI (Reuters) - Oman has borrowed 600 million rials ($1.56 billion) from its sovereign fund, the Oman Investment Authority, and another 1.77 billion rials through external and internal borrowings to partly finance its 2021 budget, the finance ministry said.
The total borrowing of 2.37 billion rials is 56% of the 4.2 billion rials worth of financing required this year, the ministry said in its March fiscal performance report.
The report came as rating agency S&P Global Ratings last week affirmed its ‘B+/B’ long- and short-term foreign and local currency sovereign credit ratings on Oman.
S&P expects the increase in the Omani government’s net debt to remain elevated through 2024, but it should decelerate relative to 2020, on the back of higher oil prices and a fiscal reform plan.
By Reuters Staff
2 Min Read
LONDON, Nov 16 (Reuters) - Suriname’s government has asked creditors for a payment deferral on its two bonds, which total $675 million in size, in what analysts said could be a prelude to a broader debt restructuring.
The government of the South American nation announced the launch of a consent solicitation for its two bonds, due in 2023 and 2026, in a statement on Saturday. The consent solicitation expires on Nov. 23.
The move had been expected after Suriname said late last month that it wanted to make use of a 30-day grace period on its dollar-bond coupon payments due on Oct. 26 to talk to creditors about its debt sustainability issues.
By Reuters Staff
(Recasts to add ‘bad bank’ liabilities and details)
MADRID, March 31 (Reuters) - Spain’s public debt reached 120% of gross domestic product last year, above the previously reported 117.1%, the Bank of Spain said on Wednesday, after adding ‘bad bank’ liabilities stemming from the financial crisis a decade ago as demanded by Brussels.
The debt-to-GDP ratio spiked from 95.5% at the end of 2019 and 114% in the third quarter of 2020, mostly due to increased spending to cushion the effect of the COVID-19 pandemic and a simultaneous economic slump.
The higher final debt ratio confirms what a senior government source told Reuters last week.
The United Arab Emirates will invest $3 billion in Iraq, it said in a joint statement at the end of Iraqi Prime Minister Mustafa al-Kadhimi's visit to UAE, state news agency (WAM) reported.