Dubai: Topaz Energy and Marine plans to raise $550m in debt from banks in early 2015 to lower its borrowing costs and fund potential expansion.
Dubai-based Topaz, part of Oman's Renaissance Services, has chosen investment bank Rothschild to coordinate the raising of a seven-year loan from banks, chief executive Rene Kofod-Olsen told Reuters in an interview.
"We want to have the firepower should there be any interesting M&A opportunities for us going forward, but also for individual assets," he said.
Topaz is mulling an IPO in London, following a stalled effort to list nearly three years ago. [25/11/14]