GIB, Boubyan Bank and BNP Paribas arrange US$100 million five-year Murabaha for Shamil Bank
Shamil Bank of Bahrain B.S.C has mandated BNP Paribas, Boubyan Bank and Gulf International Bank (GIB) to lead arrange a US$100 million five-year amortising Murabaha syndicated facility.
This transaction follows the success of Shamil Bank’s debut syndicated Murabaha facility for $50 million, which was underwritten by GIB last year.
The transaction is fully underwritten and the above banks have been joined by Commercial Bank of Qatar (Q.S.C.) and Raffeisen Zentralbank A.G. of Austria as sub-underwriters, with the title of Mandated Lead Arrangers, prior to today’s launch of the general syndication.
Created in June 2000 following the merger of Faysal Islamic Bank of Bahrain E.C. and Islamic Investment Company of the Gulf (Bahrain) E.C., Shamil Bank is listed on the Bahrain Stock Exchange and holds offshore banking and full commercial banking licenses issued by the Bahrain Monetary Agency.
Since the merger, Shamil Bank has established a leading position in the Islamic banking industry not just by its proven financial performance but also by its active contribution to the development and expansion of Islamic banking.
The Bank’s activities include retail, private and investment banking, as well as fund management as a Mudarib. All of the Bank’s activities conform to the principles of the Sharia’a.
The rating agency Capital Intelligence in September last year upgraded the Bank’s long-term foreign currency and financial strength ratings to BBB- from BB+.