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Senegal: FAR lines up SNE financing

Australia’s FAR has appointed Macquarie Bank as an arranger of a debt facility of up to US$350m to finance its share of the SNE field development, now renamed Sangomar by President Macky Sall. Macquarie Bank will arrange and manage the syndication of the debt facility, which will have a seven-year term. FAR aims to sign binding terms by year-end once the banks concerned have completed their credit approval processes.“On 30 October, FAR released the economic data for the development of the world class SNE oil field offshore Senegal.

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