RLPC-Angola's Sonangol seeks $2.5 bln loan-source

LONDON, July 23 (Reuters) - Angola's state-owned oil company Sonangol is inviting banks to join a $2.5 billion syndicated loan as sub-underwriters via mandated lead arranger Standard Chartered Bank, a banking source said.

The borrower is Sonangol Finance Ltd, with Sonangol acting as guarantor to the deal.

The seven-year facility pays a margin of 160 bps over LIBOR, up from 100 bps for Sonangol's previous $3 billion, seven-year term loan signed in October 2007.

Established in 1976, Sonangol is the exclusive operating company in Angola for the exploration of gas and oil and its activities include prospecting, production and refining. (Reporting by Christopher Mangham)