UAE’s Topaz closes in on loan worth at least $550m, sources say

DUBAI: Dubai-based oilfield services firm Topaz Energy and Marine is close to securing a loan worth at least $550 million (Dh2 billion) to help refinance existing debt and fund new projects, banking sources said on Monday. Emirates NBD, First Gulf Bank, Gulf International Bank, HSBC, Noor Bank and Standard Chartered will provide the loan, said three of the sources, with two adding it could be signed this week. A spokesman for Topaz declined to comment on the loan. The sources spoke on condition of anonymity as the information is not public.