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