The
loan, bearing interest of LIBOR plus 3.5%, is provided by a
consortium of eight banks, including HSBC Plc, BNP Paribas, ING
Bank NV, Natixis, Société Générale, Nedbank, Mizrahi Tefahot,
and Hapoalim.
Ratio is planning to withdraw $480 million in the first stage,
which it will use to repay a $450 million loan it took to fund
the company's share in the development of the first stage of the
Leviathan natural gas field off Israel's Mediterranean coast.
It will use the remaining loan for the future development of
Leviathan, which started production at the end of 2019.
(Reporting by Tova Cohen, editing by Louise Heavens)
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