Ahlibank has successfully closed a three-year $200mn syndicated term loan facility, which it said will be used for general corporate funding purposes.
The loan facility carries a margin of 120 basis points over Libor.
The initial mandated lead arrangers and book runners are Barclays BankCommerzbank Aktiengesellschaft Filiale Luxemburg, HSBC Middle East and First Gulf Bank.
Syndication was launched in an initial amount of $100mn and closed significantly oversubscribed.
The other participating banks are Arab Banking Corporation, Abu Dhabi Commercial Bank, ING Bank, Mizuho Bank, National Bank of Bahrain, Standard Chartered Bank and Commercial Bank of Dubai.
Ahlibank chairman and managing director Sheikh Faisal bin A Aziz al-Thani said, “We are delighted with the outcome of this debut syndicated facility and pleased with the excellent reception received from the bank market where considerable interest in Ahli Bank has been demonstrated by an oversubscription of 240%. The loan will provide us with a good benchmark for our future needs. We are extremely thankful for the trust given by these leading regional and international institutions in Ahlibank.”
