ABC to arrange $100m for Kuwait firm
Manama, September 12, 2007
Bahrain-based ABC Islamic Bank has been mandated to arrange a $100 million three-year syndicated revolving Murabaha financing facility for Munshaat Real Estate Projects Company, Kuwait.
The facility has been fully underwritten by ABC Islamic Bank.
This is the debut syndication for Munshaat Real Estate Projects Company and the funds will be used to finance development of prime properties in the Holy Haram area in Makkah and Madinah in Saudi Arabia.
Athman Investment Company, Kuwait is acting as the financial advisor to Munshaat Real Estate Projects Company for this financing.
ABC Islamic will shortly launch the senior stage of syndication to regional and international banks. –TradeArabia News Service
More Finance & Capital Market Stories
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award
- Alba backs Euromoney forum
- URC bond rating upgraded to stable outlook
- GCC urged to set up onshore financial centres
- Consolidation push paying off for Bahrain banks
- Mubadala to focus more on US, Europe
- Six banks join plan for shared customer data register
- UAE economy grows 4pc in 2013
- Egypt foreign reserves up to $17.3bn
- StanChart opens second branch in Iraq
- Oil below $90 to hit GCC economies
- Payfort offers zero deposit scheme to SMEs
- In a first, NCB Capital names female CEO
- Du enters $1.17 billion financing deals