Bahraini bank in $150m loan facility arranging deal
MANAMA, June 25, 2015
Bahrain-based Bank ABC, HSBC Securities and National Bank of Abu Dhabi (NBAD) have been mandated to arrange a $150 million senior unsecured term loan facility for Banco ABC Brasil, a subsidiary of Bank ABC.
They were appointed as initial mandated lead arrangers and bookrunners by Banco ABC Brasil, acting through its Cayman Islands Branch, said a report in the Gulf Daily News (GDN), our sister publication.
The facility is to be used by Banco ABC Brasil for general funding purposes.
It has a tenor of two years and pays a margin of L+150bps.
Banco ABC Brasil has also appointed Bank ABC, HSBC and NBAD to act as co-ordinators for the facility.
Syndication of the facility has been launched and is expected to close by end of July. - TradeArabia News Service