Zain increases to $1.3bn after oversubscription

Kuwaiti telecoms company Zain has signed its increased $1.3bn refinancing, the only widely syndicated Middle East deal since protests took hold in the region. The deal was apparently unaffected by the crises in Tunisia, Egypt, Libya and Bahrain, and was increased from $1.2bn following an oversubscription.

  • 04 Apr 2011

“It had good momentum at the start but the uprisings in the Middle East coincided with the later stages of syndication,” said a banker close to the deal. “It was the ultimate test but we still managed to close oversubscribed.”

Arab Banking Corporation, Bank of Taiwan, Chang Hwa Commercial ...

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