Ratio Oil Exploration (1992) LP (TASE:<a href=Javascript:viewInstrument('394015',45,'EN')>RATI.L</a>) has completed raising finance for its share of the development of the Leviathan gas reservoir. At the end of last week, the partnership signed an agreement for senior bank finance amounting to $250 million, with an option for a further $150 million. As expected, and as reported by "Globes", Deutsche Bank did not participate in the consortium of banks that will finance the project. The participating banks are HSBC and BNP Paribas. RELATED ARTICLES Leviathan partners sign $2b gas deal Ratio unit to raise NIS 100m in TASE IPO Delek units raise bank finance for Leviathan Delek units report rise in Tamar gas production <p>The loan obtained by the partnership is a dollar-denominated loan repayable in one payment after two years, when Ratio will have an option to extend the loan term by a further two years. Expansion of the loan by $150 million depends on agreement by HSBC and BNP Paribas, and the partnership will be allowed to obtain the finance from other banks. Ratio will be able to draw down the loan when it reaches certain undisclosed milestones. The loan will bear interest at three-month dollar LIBOR plus an undisclosed margin.<p><i>Published by Globes [online], Israel business news - <a href=http://www.globes-online.com>www.globes-online.com</a> - on December 4, 2016</i> <p><i>© Copyright of Globes Publisher Itonut (1983) Ltd. 2016</i>
