IPIC $5bn loan gains momentum

Abu Dhabi’s International Petroleum Investment Company (IPIC) is pressing ahead with plans to come to market with a $5bn acquisition facility, as 10 to 12 banks are understood to be involved in the deal at the senior level. The facility is likely to be launched into a wider syndication, according to bankers involved in the talks. Read on for more information about the deal’s structure and its timing.

  • 20 May 2009
The borrower is seeking the loan — which would be the biggest facility to come out of the Middle East this year — to back a series of recent cross-border acquisitions. Bank of Tokyo-Mitsubishi UFJ, HSBC and Santander emerged as the initial co-ordinators of the transaction at the ...

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