Majid Al Futtaim Group LLC US$ 1,000 Million Syndicated financing
Calyon Crédit Agricole CIB (Calyon) (the sole Underwriter and Bookrunner) is pleased to announce the successful closing of the USD 1,000 million syndicated facility for Majid Al Futtaim Group LLC (the “Facility”).
Calyon also acted as Documentation Agent and as Facility Agent.
The Facility was split between a USD 500m Term Loan and a USD 500m Revolving Credit Facility and banks were invited to fund pro-rata either in US Dollars or United Arab Emirates Dirhams (AED). The purpose of the four-year Facility, which carries a margin of 1.00% per annum, is to refinance certain existing indebtedness and for general corporate purposes.
The transaction represents a debut syndication for the Borrower and was very well received by the market, attracting strong interest from leading international and regional banks.
Bookrunner and IMLA
Calyon
Mandated Lead Arranger
Arab Bank plc
Banque Saudi Fransi
Barclays Bank plc
Emirates International PJSC
Mashreqbank psc
Lead Arranger
Samba Financial Group
Citibank N.A.
Arranger
Abu Dhabi Commercial Bank
National Bank of Abu Dhabi
Union National Bank
Co-Arranger
Al Ahli Bank of Kuwait K.S.C.
Senior Lead Manager
Banque Bia
Founded in 1992, the Majid Al Futtaim Group was originally created to bring the first regional shopping mall to the Middle East. Today the Group is the market leading developer, owner and operator of retail mall space, retail franchises and associated developments in the Gulf region. Majid Al Futtaim Group owns and operates iconic assets like Mall of the Emirates, the World’s Best Performing shopping mall and holds a majority stake in a retail franchise business with Carrefour.
