Gulf International Bank signs $400 million loan agreement
(MEBG) – Bahrain’s Gulf International Bank signed a $400 million loan agreement on July 11, at a ceremony that took place at Le Royal Meridien Hotel. The loan’s duration is five years with a single payment made at maturity.
The loan, which had been increased from $300 million to $400 million, was oversubscribed and arranged by the Bank of Tokyo-Mitsubishi, Barclays Capital, Citibank, NA, Commerzbank Aktiengesselschaft, HSBC Investment Bank and National Bank of Abu Dhabi.
Among the participants in the ceremony were Khaled Al Fayez, the GIB vice chairman and group CEO, Vince Cook, Barclays UAE Gulf managing director; Abdulla Al Kuwaiz, GIB’s general manager; Bachir Barbir, GIB’s assistant general manager, as well as representatives from the various participating banks.