Bukhatir gets $215m syndicated loan
WestLB AG, London Branch, acted as sole underwriter, book-runner and initial mandated lead arranger on the debt financing. HSBC Bank Middle East, Bank of Sharjah and First Gulf Bank joined as mandated lead arrangers in the general syndication of the conventional facilities along with Landesbank Baden-Württemberg as lead arranger.
The managers were the Arab Investment Company SAA, Wholesale Bank, Bank of Taiwan, Banque BIA, British Arab Commercial Bank, Chinatrust Commercial Bank, First Commercial Bank, Land Bank of Taiwan, Offshore Banking Branch, the International Commercial Bank, Maybank, Mega International Commercial Bank and Hua Nan Commercial Bank.
The commodity Murabaha was supported by European Arab Bank, Kuwait Finance House (Malaysia) and Dubai Bank. Alpen Capital acted as advisers to the syndication.
AR Bukhatir, chairman of the group said: “Such extensive support underscores the market’s confidence in the expansion and investment plans of the group.”
Dr Bhaskar Banerjee, the executive director, said the oversubscription was quite an achievement at the time of a global financial crunch.
Follow Emirates 24|7 on Google News.