Signing is due around 18 November for the five-year, $500 million facility – increased from $400 million – for Arab Banking Corporation (ABC)
. The deal is understood to have been well received at general syndication, with uptakers joining a 14-strong mandated lead arranger (MLA) group and eight co-lead arrangers. It is priced at 37.5 basis points (bp) for the first three years and 40 bp for the final two (MEED 29:10:04).
Signing is due on 15 November of a $225 million facility for ABK, lead arranged by HSBC
and Sumitomo-Mitsui Banking Corporation
. The loan has been increased in size from $150 million due to oversubscription. A syndicated borrowing for First Gulf Bank
, lead arranged by Bank of Tokyo-Mitsubishi
, Gulf International Bank (GIB)
and Standard Chartered Bank
, was signed in the second week of November and raised to $175 million from $150 million. It was priced at 40 bp.
MLAs were appointed in early November for a $150 million, three-year facility for BKME. They are ABC, Commerzbank
, Dresdner Kleinwort Wasserstein
and GIB. The loan is priced at 37.5 bp.