ABK signs $165 million loan agreement with 21 international banks
Al-Ahli Bank of Kuwait (ABK) has signed the facility agreement for its debut $165 million international syndicated term loan.
Deputy Chairman and Managing Director Ali Hilal Al-Mutairi represented ABK in signing the agreement along with representatives of the group of 21 international banks participating in the syndication. The loan was jointly arranged by Arab Banking Corporation (ABC) and HSBC.
“The syndication was extremely successful, with a large number of international banks agreeing to participate. As a result the facility was increased from the original launch amount of $100 million to $165 million, with the finance raised within a three week period,” said Al-Mutairi.
ABK was established in 1967. With a local retail network of 14 branches, ABK is the only Kuwaiti bank to have a branch in Dubai. ABK's presence in both countries provides the Bank with a base from which to support business opportunities throughout the Gulf. — (menareport.com)
© 2003 Mena Report (www.menareport.com)