Société Tunisienne de Banque gets $75 million syndicated term loan facility
Arab Banking Corporation (ABC), Crédit Lyonnais and Natexis Banques Populaires have been mandated to arrange and syndicate on behalf of Société Tunisienne de Banque a debut five-year $75 million term loan facility. Syndication is due to be launched shortly.
Proceeds for the facility will be used for general funding purposes and the transaction will carry a margin of 80 basis points per annum plus front-end fees.
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. It has 117 full branches in Tunisia and is considered a "banque universelle" in the context of Tunisia.
ABC, Crédit Lyonnais and Natexis Banques Populaires will act as Joint Bookrunners while Crédit Lyonnais will act as the Facility Agent and Natexis Banques Populaires as the Documentation Agent. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
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