Banque Saudi Fransi set to increase $300m loan

11 September 2008
Banque Saudi Fransi is looking to increase the size of a $300m loan after banks have oversubscribed to the deal.

It is currently not clear how big the deal will eventually be, but it is expected to close in the next few weeks.

The deal, which is being arranged by Calyon, Intesa Sanpaolo, RZB, WestLB and Sumitomo Mitsui Banking Corporation, was launched into the syndication market in early August

The deal is split between a three-year tranche and a five-year tranche, with margins of 70 basis points and 100 basis points over the London interbank offered rate (libor) (MEED 10:8:08).

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