Bahrain-based Arab Banking Corporation (ABC)has appointed a 14-strong group of mandated lead arrangers (MLAs) for a $400 million syndicated loan facility. The proceeds will be used for general corporate funding purposes.

The MLAs on the five-year facility are: Bank of Tokyo-Mitsubishi (BOTM), Bayerische Landesbank, BNP Paribas, Calyon, Citibank, Gulf International Bank, HSBC, ING Bank, Mizuho Financial Group, National Bank of Abu Dhabi, SanPaolo IMI Bank Ireland, Standard Chartered Bank, Sumitomo-Mitsui Banking Corporation and WestLB. BOTM, BNP, Citibank and HSBC are acting as joint bookrunners on the transaction, while Sumitomo is the facility agent and SCB is documentation agent.

The facility has a step-up structure starting at 37.5 basis points (bp) for the first three years and 40 bp for the final two. The syndication is one of a number currently in the market or close to being launched (MEED 10:9:04).