IPIC blow-out success encourages MidEast lenders

Abu Dhabi’s International Petroleum Investment Co (IPIC) received such a strong reception in senior syndication that it has cancelled the retail phase of its loan. It picked up $6.4bn of commitments from 16 lenders and bankers were delighted with the result, saying it boded well for the wider Middle Eastern market.

  • 02 Jul 2009
“IPIC would definitely have picked up a lot of commitments in general syndication,” said one official close to the deal. “I almost wish we could have launched a retail phase to test the waters and prove there’s still a lot of appetite out there among local banks. But ...

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