Banque Saudi Fransi has increased the size of a syndicated loan it is raising from $300m to $525m, after the deal was oversubscribed earlier in September.
The deal is split between a three-year $183m tranche, with margins of 70 basis points over the London interbank offered rate (Libor), and a $342m five-year tranche with margins of 100 basis points over Libor.
About 15 banks are understood to be financing the deal, with each bank contributing up to $35m.
The deal was arranged by Calyon, which has a 31 per cent stake in Saudi Fransi, as well as Intesa Sanpaolo, RZB, WestLB and Sumitomo Mitsui Banking Corporation (MEED 11:9:08).
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