Omani firm seeks $720m loan

Oman’s Salalah Methanol has asked banks for a $720 million syndicated loan that the staterun petrochemical company would use for a new ammonia plant and refinancing purposes, banking sources said on Wednesday.

Bank Dhofar and Standard Chartered are advising the company on the financing, which is expected to have a 12-year maturity. Banks are expected to sunmit their commitments to the loan by the end of March, the sources said.