Thursday 24 July 2014
 
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Islamic loan

Kuwait Zain signs $250m Islamic loan

Kuwait's Zain has secured a $250 million four-year Islamic loan from a syndicate of three Gulf banks, the telecommunications operator said on Wednesday. Zain, which operates in eight countries in the Middle East and Africa, ha

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Indian group secures $150m Islamic loan

Indian textile major Alok Industries said its overseas unit has successfully closed a $150 million syndicated Murabaha facility with Gulf lenders Noor Islamic Bank and Warba Bank. The facility marked the first such transaction tha

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Zain Saudi extends $2.3bn loan by five years

Loss-making telecom operator Zain Saudi has reached an agreement to extend the outstanding $2.3 billion on an Islamic loan facility by five years, the company said in a bourse statement on Monday. Zain Saudi, 37-percent owned by K

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Egyptian firm Maridive inks $150m Islamic loan

Egyptian marine services firm Maridive and Oil Services has obtained a $150 million syndicated loan using an ijara (Islamic leasing) structure, the first of its kind in Egypt, said the legal advisor on the deal. The Maridive loan

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Gulf Capital to raise $360m partly for dividend

Abu Dhabi private equity firm Gulf Capital is close to signing a 1.32 billion dirhams ($359.38 million) Islamic loan for its company Gulf Marine Services (GMS), some of which will be paid out to investors as dividends. Gulf Marine

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Zain Saudi extends maturity of $600m facility

Telecom operator Zain Saudi has extended the maturity of a $600 million facility until May 1, according to a statement on Saudi Arabia's bourse, the latest debt roll over by the loss-making firm. This was due to be repaid on A

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Zain Saudi defers $2.4bn loan for 5th time

Zain Saudi extended the maturity of a SR9 billion ($2.4 billion) Islamic loan for another 21 days on Wednesday, the fifth time the loss-making telecom operator has deferred payment. The company, an affiliate of Kuwait's Zain,

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Emicool signs $216m Islamic loan

Dubai-based Emirates District Cooling (Emicool), a joint venture between Dubai Investments and Union Properties, signed a Dh793 million ($216 million) Islamic loan guaranteed by both parents, a statement said on Sunday. Structured

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Al Fanar signs $800m Islamic loan

Al Fanar Company, a Saudi-based electrical engineering and electrical products manufacturer, has signed a SR3 billion ($800 million) dual-tranche Islamic loan, it said in a statement on Tuesday. It is the first time the firm has completed

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Kuwait industrial group eyes $358m loan

National Industries Group Holding (NIG), a leading Kuwait-based company engaged in diversified industrial sectors, said it has appointed banks to raise more than KD100 million ($358 million) in a shariah-compliant syndicated loan. 

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