Middle East Loans
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Middle East-focused oil trader BB Energy has signed an oversubscribed $175m one year loan from 20 banks, in a deal that lenders say typifies the ample cash available to borrowers. -
Saudi hotelier and entertainment firm Abdulamohssein Al Hokair Tourism and Development Co has signed a SR50m ($13m) four year loan with Saudi British Bank.
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Bahrain's Arab Banking Corp launched a $500m three year syndicated loan into the market on Thursday morning, becoming the second Gulf bank to come to the market after seven years away.
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Bahrain's Arab Banking Corp launched a $500m three year syndicated loan into the market on Thursday morning, becoming the second Gulf bank to come to the market after seven years away.
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Bahrain Steel launched a $340m seven year syndicated loan into the market on Wednesday morning.
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Maaden Waad Al Shamal Phosphate Co, a subsidiary of the Saudi Arabian Mining Co (Maaden), has signed a SR18.9bn ($5bn) financing agreement with banks and the state’s Public Investment Fund. Proceeds will be used to fund the construction of the Maaden Waad Al Shamal phosphate project.
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Bahrain Steel launched a $340m seven year syndicated loan into the market on Wednesday morning.
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Dubai's Mashreqbank has ended a seven year absence from the loan market by signing a $500m three year deal.
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United Arab Bank has signed its first ever Shariah-compliant financing agreement – a three year $100m murabaha facility with four Gulf banks.
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Unatrac, a Dubai-based Caterpillar equipment dealer, has taken advantage of the trend for companies to amend existing loans in their favour to add two years to the tenor and slash 125bp from the margin of its debut $700m loan, signed last June.
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Saudi Arabian telecoms firm Mobily has signed a SR750m ($200m) Shariah-compliant financing agreement with Canada’s export credit agency.
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Investcorp, the Bahraini alternative investment firm, has signed a $400m four year revolving credit facility to refinance an existing debt early.
