Zain Saudi wins state backing on junior refi

Mobile telecoms firm Zain Saudi has signed a Sr2.25bn ($600m) government guaranteed three year Islamic financing facility. Saudi Arabia’s decision to provide an unconditional and irrevocable guarantee for Zain suggests that Gulf countries are becoming more willing to support the telecom sector, said Fitch in a research note, raising the possibility of cross-border mergers.

  • 07 Jun 2013

Arab National Bank, Banque Saudi Fransi, Gulf International and Samba Financial provided the new loan, which will be used to repay a Sr2.25bn facility that was due on May 1 until Zain negotiated an extension to June 5.

"In the short term, this will help limit the potential for ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 13,295 25 18.56
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.25
3 Lloyds Bank 6,979 21 9.74
4 Citi 6,256 16 8.73
5 JP Morgan 5,220 8 7.29

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 104,581.71 299 10.92%
2 Bank of America Merrill Lynch 86,347.40 249 9.01%
3 JPMorgan 80,990.39 237 8.46%
4 Wells Fargo Securities 77,934.65 225 8.14%
5 Credit Suisse 63,570.21 165 6.64%