$100 million loan facility signed for Société Tunisienne de Banque
Arab Banking Corporation (ABC), Crédit Lyonnais and Natexis Banques Populaires have closed and signed the debut $100 million syndicated term loan facility for Société Tunisienne de Banque (STB).
The syndication achieved a significant oversubscription with a total of $150 million raised from the market and STB elected to increase the facility amount from the initial $75 million to $100 million. There was broad support from local, regional and international banks with a total of 27 banks including the three Mandated Lead Arrangers participating in the financing.
Société Tunisienne de Banque was established in 1957 and is the largest commercial bank in Tunisia. The Republic of Tunisia maintains a shareholding of 52.6 percent direct/indirect with the remaining shares widely held among individual and private company investors. — (menareport.com)
© 2003 Mena Report (www.menareport.com)