A US$ 115,000,000 syndicated term loan facility (the Facility) to Al Mazrui Holding LLC (the Company) was signed in Abu Dhabi on Wednesday 11th October 2006.
BNP Paribas acted as sole Bookrunner and Facility Agent.
The Facility represented the Company's debut syndicated loan transaction with the proceeds being used to refinance existing bilateral lines as well as for general corporate purposes.
The Facility carries a margin of 90 bp and takes the form of a 5 year amortising term loan.
The syndication was launched at US$ 100,000,000 and was subsequently increased following a strong response from the market.
Eight banks joined during syndication with the full bank list being as follows:-
