MANAMA: Bahrain-based Arab Banking Corporation said that it has mandated HSBC, National Bank of Abu Dhabi PJSC, Natixis and Sumitomo Mitsui Banking Corporation as Bookrunners and Initial Mandated Lead Arrangers to arrange on its behalf a $500 million term loan facility.
The bank said the facility would be used by for general funding purposes. The facility carries a tenor of 3 years and pays a margin of L+120bps.
ABC has also appointed HSBC to act as coordinating bank for this Facility.
Deutsche Bank AG, London Branch, Société Générale, Standard Chartered Bank and The Royal Bank of Scotland plc have pre-committed to the Facility prior to the launch of the general syndication as Mandated Lead Arrangers.
Syndication of the Facility was launched this morning.
Arab Banking Corporation, popularly known as ABC, is an international universal bank headquartered in Manama, Kingdom of Bahrain. Its network covers 17 countries across the Middle East and North Africa, Europe, the Americas and Asia.