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Zain Saudi Arabia closes SAR 2,250 Million Multi-Currency Syndicated Loan Facility

Arab National Bank (" ANB "), as Coordinator, led a bank group consisting of Al Khaliji Commercial Bank Q.S.C (" al khaliji "), Banque Saudi Fransi ("BSF") and Gulf International Bank B.S.C (" GIB ") that has closed and funded a two year conventional SAR 2,250 million (equivalent to US$ 600 million) multi-currency syndicated term facility for Zain KSA . The new facility will be used to refinance and upsize an existing US$ 585 million facility, as part of the ongoing development of the company's financial structure. Fault negligence

Commenting on closing the facility, Mr. Ivan Hopkins, Head of Project and Structured Finance at ANB , said despite challenging regional market conditions, the facility received good response from the financial institutions in the region, reflecting its innovative structure and strong sponsorship. Mr. Hopkins also thanked the Company and the other participating financial institutions for working hard to successfully close the transaction.

Arab National Bank , a Saudi Joint Stock Company, is one of the top ten banks in the Middle East. With a capital base of USD 1.73 billion, ANB offers a full range of commercial and Islamic banking products and services to the retail and corporate sectors. The Bank also offers, through its investment arm ANB Invest, corporate finance, assets management, and brokerage services. ANB is "A" rated by Standard & Poor's and Fitch, A1 by Moody's, and A+ by Capital intelligence.

Headquartered in Doha, al khaliji is a leading Qatari bank and a member of the Qatar Exchange 20 Index (QE Index), with QR 20.37 billion in total assets and QR 5.26 billion in shareholders' equity as of 31 December 2010. al khaliji offers a full range of banking products and services to retail, business, corporate and institutional customers in Qatar and across the wider GCC.

Banque Saudi Fransi , a Saudi Joint Stock Company, is one of the largest corporate banks in Saudi Arabia. It is affiliated with Credit Agricole Corporate and Investment Bank that holds an equity interest of 31.1%. BSF offers a full range of commercial and corporate banking services including financing for international trade, contracting, structured construction and industrial loans, online brokerage and personal banking services. BSF is rated "A/A1" by Standard & Poor, "A/F1" by Fitch and "Aa3 / P1" by Moody's.

GIB is a leading merchant bank in the Middle East with its principal focus on the GCC states. Its primary shareholder is the Public Investment Fund of Saudi Arabia. The Bank provides client-led, innovative financial products and services to a wide customer base in the region, including investment banking, asset management, project and structured finance and Islamic banking.

Zain Saudi Arabia is a leading player in the dynamic and fast growing mobile telecommunication market of Saudi Arabia. Zain KSA provides voice, messaging, multimedia, call management, data and other services. Zain KSA network currently covers 93% of Saudi Arabia and has a customer base of 8.3 million as of end of 2010. It is part of the Zain group, a major pan-regional mobile operator, with networks spanning 8 countries in the Middle East.
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© Press Release 2011

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