The Arab Banking Corporation (ABC) and Sumitomo Mitsui Banking Corporation Europe have closed a $300 million syndicated term loan facility for Commercial Bank of Kuwait.
Syndication achieved a significant oversubscription and Commercial Bank of Kuwait elected to increase the facility amount from the initial $250 million launch amount. There was broad support from regional and international banks with a total of 23 banks including the two Mandated Lead Arrangers participating in the financing.
Commercial Bank of Kuwait provides a range of corporate, commercial and consumer banking products to the domestic market. The bank has a network of 36 branches, Internet, telephone and automated teller machine services. It ranks as the third-largest bank in Kuwait in terms of assets, out of a total of six commercial banks, and second-largest in terms of profitability and local branches network. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
