Global Investment House is close to finalising a $410m syndicated loan at margins of 215 basis points over the London interbank offered rate (libor), after the lead arrangers increased the pricing on the deal by 40 basis points.
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).
You might also like...
Rainmaking in the world economy
19 April 2024
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
