Arab Bank, Bahrain Sign $61.5m Loan Deal
The Arab Bank, Bahrain, has successfully closed a $61.5 million bond facility for Consolidated Contractor International Company, Bahrain Tribune Wednesday.
The arranger bank and other members of the syndication signed the $61.5 million facility agreement for the Athens-based Consolidated Contractors International Company in Bahrain Tuesday, the paper said, noting that the Arab Bank has arranged this facility through its Offshore Banking Unit, Bahrain.
According to the daily, the bank has announced that “the arranger who had underwritten 50 percent of the bond facility, three other institutions – Gulf International Bank, Bahrain; Arab Banking Corporation, Bahrain and Arab National Bank, London Branch, jointly underwrote the remaining amount of the facility. This facility will be used for the period between four to five years, which is a given timeframe for the completion of the project,” -- Albawaba.com
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