Hikma appoints banks for $180m loan deal

25 October 2011

Jordanian pharmaceuticals firm looking for acquisition finance

Jordan’s Hikma Pharmaceuticals has appointed the local Arab Bank and the US’ Citigroup to arrange a $180m loan for the company, to be used for acquisitions and capital expenditure.

Other banks joining the deal include the London-based subsidiary of Arab Bank, Europe Arab Bank, the London office of Saudi Arabia’s Arab National Bank, and National Bank of Kuwait.

Earlier in October, the company announced that it was spending $111m buying Morocco’s Promopharm as part of the company’s strategy to expand its operations in North Africa.

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