The Kuwaiti-based firm has appointed BNP Paribas and WestLB to act as lead arrangers on the three-year deal, and they used the market flex clause in the structure of the deal to increase returns earned by participating banks.

The proceeds of the deal will be used to finance Global’s acquisition of a 20 per cent stake in National Bank of Umm al Quwain (MEED 11:09:08).