QPI gets $246m finance facility from Barwa Bank and Doha Bank
December 30, 2013 - 9:59:51 am
DOHA: Doha Bank and Barwa Bank, in two separate statements, announced their respective decisions to participate in a Finance Facility for Qatar Petroleum International (QPI) Upstream OPC, a fully owned subsidiary of QPI.
Barwa Bank, Qatar’s fastest growing Shari’ah compliant banking service provider has announced its participation of $123mn in the Facility for QPI.
The Bank said this Facility will be utilised to part finance QPI Upstream OPC for its investment in Total’s operations in the Republic of Congo. The investment is through a share capital increase in Total E&P Congo resulting in QPI holding a 15 percent share of the company.
In a filing to Qatar Exchange, Doha Bank announced its participation of $ 123m in a Loan deal for QPI Upstream OPC.
This loan will also be utilized to part finance QPI Upstream OPC for its investment in Total’s operations in Congo.