Middle East Loans
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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. -
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.
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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.
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The Islamic Development Bank (IsDB) has approved financing facilities for various projects in member and non-member countries worth $447m, as the multilateral organisation celebrates its 40th anniversary.
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The National Shipping Co of Saudi Arabia (Bahri) has signed a SR3.18bn ($849m) murabaha bridge financing facility with three local banks to finance its $1.3bn merger with Vela, a subsidiary of Saudi Aramco.
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A $500m component of Indian mining firm Vedanta Resources’ $1bn fundraising has had a targeted launch into senior syndication, according to a banker.
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Saudi Arabian energy and telecoms transmission manufacturer Al-Babtain signed SR300m ($79.9m) with Alinma Bank, its second Islamic financing agreement.
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Saudi Advanced Industries Co has signed a three year Shariah-compliant SR150m ($39.9m) financing facility with Saudi Hollandi Bank.
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Mid-tier Turkish financial institution Alternatifbank has breezed past its refinancing target to sign a $343.5m-equivalent one year loan.
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Abu Dhabi steel maker Emirates Steel has signed eight year refinancing and acquisition loans totalling $1.3bn, including conventional and Islamic tranches.
