Middle East Loans
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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. -
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.
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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.
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Saudi Arabian fashion retailer AlHokair signed a SR1bn ($267m) Shariah-compliant financing facility with Gulf banks on Thursday and is preparing to price a debut sukuk next week.
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While sukuk issuance so far in 2014 has lagged last year and 2012 (the busiest for that asset class yet), Emaar Mall’s recent $1.5bn financing has taken Islamic loans into post-crisis record territory, according to the IFIS Loans Database.
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Bank of London and Middle East has agreed a $15m five year murabaha facility for Virgin Mobile Middle East and Africa (VMMEA), the holding company for Virgin Mobile’s expansion into the Middle East and Africa.
