Kuwait
Investment company Global Investment House is back in the market with a $410m, three year loan. BNP Paribas and WestLB are the initial mandated lead arrangers and bookrunners. Proceeds will finance the acquisition of a 20% stake in National Bank of Umm Al Quwain.
The facility pays a margin of 175bp over Libor, and banks are being invited to commit with $30m mandated lead arranger tickets for 120bp, $20m lead arranger tickets at 100bp, $10m arranger tickets for 85bp and $5m lead manager tickets for 75bp.
Bank meetings will take place in Dubai, Singapore, Taipei and London in the week of September 15.
Saudi Arabia
The $300m loan for Banque Saudi Fransi, launched at the beginning of August, is oversubscribed, and the borrower is looking at taking an increase. Calyon, Intesa Sanpaolo, RZB, SMBC and WestLB are arranging the facility.
The facility is split between three and five year tranches, which pay 70bp and 100bp over Libor respectively.
Lenders are being invited to join as mandated lead arrangers on tickets of $35m for 60bp on the three year piece and 125bp for the five year tranche, as lead arrangers on $20m for 50bp and 110bp, as arrangers on $10m for 45bp and 100bp and as lead managers on $5m for 40bp and 90bp.
