Home / ABC International secures $150 million dual tranche mutli-currency loan facility

ABC International secures $150 million dual tranche mutli-currency loan facility

The UK-based Arab Banking Corporation International (ABCIB) successfully secured the syndication of $150 million dual tranche Term Loan Facility from Bayerische Landesbank Girozentrale, Commerzbank Aktiengesellschaft and the Mizuho Financial Group (Fuji).

The UK-based Arab Banking Corporation International (ABCIB) successfully secured the syndication of $150 million dual tranche Term Loan Facility from Bayerische Landesbank Girozentrale, Commerzbank Aktiengesellschaft and the Mizuho Financial Group (Fuji).

The agreement, which was signed in London on July 9, will be used by ABCIB to attend to general corporate purposes, including the refinancing of ABCIB's US$100 million term loan facility dated October 1996. The transaction was well received by the market and was oversubscribed. Details of the facility: Tranche A - US$ 100 million 3 year Term Loan facility, carrying a margin of 35 bp per annum, Tranche B - US$ 50 million 5 year Term Loan facility, carrying a margin of 40 bp per annum.

Lead Managers for the syndication include Anglo Irish Bank Corporation plc, Natexis Banques Populaires, Raiffeisen Zentralbank Österreich AG, WGZ Bank. Managers include: Baden-Württembergische Bank AG, Hungarian Foreign Trade Bank, Lyonnaise de Banque.

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