Thirteen banks joined at syndication. They were Baden Wurttembergische Bank, Bank Austria Creditanstalt, Bank fuer Arbeit und Wirtschaft, Bank of Tokyo-Mistubishi, Commercial Bank of Qatar, First Commercial Bank, First Gulf Bank, Gulf International Bank (GIB), International Bank of Qatar, Raiffeisen Zentralbank Osterreich Aktiengesellschaft, Sanpaolo IMI Bank Ireland, Sumitomo-Mitsui Banking Corporationand Tunis International Bank.

Several other syndications in the market have attracted strong interest.

A $40 million loan for Alliance Housing Bank, lead arranged by Bank Muscatand West LB, closed oversubscribed on 20 October. Syndication was due to be launched in mid-October on a $150 million facility for Ahli United Bank London, lead arranged by Commerzbank, HSBC and Lloyds-TSB, and syndication is scheduled to be launched imminently on a $150 million facility for Bank of Kuwait & the Middle East, lead arranged by ABC, GIB and Commerzbank.

Second-tier syndication is also under way on a $400 million facility for ABC, managed by a 14-strong lead arranging group (MEED 8:10:04).