ABC and HSBC to arrange $100 million loan facility for Al-Ahli Bank of Kuwait
The Arab Banking Corporation (ABC) and HSBC Bank have been mandated to arrange and syndicate on behalf of Al-Ahli Bank of Kuwait a debut three-year $100 million term loan facility.
Proceeds of the facility will be used for general funding purposes and the transaction will carry a margin of 45 basis points per annum plus front-end fees.
Al-Ahli Bank of Kuwait was incorporated in 1967 and is listed on the Kuwait Stock Exchange where its shares actively trade. It has 14 branches in Kuwait, plus one in Dubai and is a full service bank serving retail and corporate customers.
ABC and HSBC Bank will act as Joint Bookrunners while HSBC Bank will act as the facility and Documentation Agent. The syndication is due to be launched shortly. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
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