Syndication is due to close in early February of a $750 million murabaha facility being taken out by Kuwait’s MTC. Signing of the one-year facility, which pays 50 bp for the first six months and 60 bp for the remainder, is due shortly after. A six-strong group of banks is arranging the loan, which will part-pay for the acquisition of Amsterdam-based Celtel (MEED 13:1:06).

A $70 million murabaha facility for Isfahan Steel Company is in documentation and is due to be signed in mid-February. ABC Islamic Bank and Emirates Islamic Bank are arranging the three-year facility, which is priced at 348 bp (MEED 25:11:05).

Syndication is due to be launched in late February on the $153 million, 12-year project financing for United Stainless Steel Company to fund its planned plant at Hidd in Bahrain. ABC is financial adviser and sole MLA (MEED 16:12:05).