Mashreq leads loan syndicate

Dubai lender Mashreq said on Monday it had led a syndication of banks to raise a $140-million loan for Sri Lanka's Bank of Ceylon.

Ten regional banks participated in the facility, including Oman's Bank Sohar and Bank Dhofar, Qatar's Doha Bank and UAE lenders Emirates NBD and Union National Bank.

The statement did not provide details on the terms of the loan, including the tenor and pricing, but said the deal was oversubscribed.

Mashreq acted as the mandated lead arranger, book runner and facility agent for the syndication.

Follow Emirates 24|7 on Google News.