Zain KSA completes $2.5bn murabaha loan

Zain, the Kuwaiti telecoms group, has signed a $2.5bn murabaha loan for its Saudi business, one of the biggest Islamic financing deals to come out of the Middle East this year. The three initial bookrunners — Al Rahji Bank, Banque Saudi Fransi and Calyon — were joined by five other lenders during a senior phase, a level of support that meant there was no need for a general syndication.