OSX Nears Finish Line

OSX Nears Finish Line

Brazil Asia Loans

Five banks are heard signing up for OSX’s $850m loan to finance the construction of a floating production storage and offloading (FPSO) vessel OSX-2 in Singapore. The transaction is expected to close in October and is being led by ING, Itau and Santander. The loan has a 12-year final maturity with a 7-year average life, offering a margin L+425bp pre-construction and +410bp thereafter. Including the bookrunners, the deal now has 8 banks in total. This comes despite difficulties earlier this year

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