Feb 20 2008 |
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Bukhatir Investments Limited US$215 Million Syndicated Debt Facilities
Bukhatir Investments Limited has signed a US$215 million Syndicated Loan Facility recently, including a US$ 165 million Term loan facility and a US$50 million Commodity Murabaha. This included an over-subscription of US$ 15 million.
WestLB AG, London Branch acted as sole underwriter, book runner and initial mandated lead arranger on the debt financing. HSBC Bank Middle East , Bank of Sharjah and First Gulf Bank PJSC joined as a Mandated Lead Arrangers in the general syndication of the conventional facilities along with Landesbank Baden-Württemberg as Lead Arranger and The Arab Investment Company S.A.A. Wholesale Bank, Bank of Taiwan, BANQUE BIA, British Arab Commercial Bank , Chinatrust Commercial Bank Co., Ltd, First Commercial Bank Ltd., Land Bank of Taiwan, Offshore Banking Branch, The International Commercial Bank, Maybank, Mega International Commercial Bank Co. Ltd., Hua Nan Commercial Bank LTD., as Managers. The Commodity Murabaha was supported by European Arab Bank plc, Kuwait Finance House (Malaysia) Bhd and Dubai Bank PJSC. Alpen Capital acted as Advisers to the Syndication.
The facility includes a amortising term loan facility with a maturity of 5 years and a margin of 110bps over LIBOR for the first three years stepping up to 125bps in year 4 and 5. In addition, there is a 3 year revolving facility and a commodity Murahaba facility with a margin of 105 bps over LIBOR.
Mr. A. R. Bukhatir, Chairman of the Group said: "We are delighted to have such extensive support for the Syndication facility, which underscores the market's confidence in the ongoing expansion and investment plans of the Bukhatir Group".
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© Press Release 2008
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