Saudi Arabia: Guardian Zoujaj $100m Loan Facility

Wednesday, 20 December 2006

DUBAI: Guardian Zoujaj International Float Glass Co. LLC (Guardian RAK) signed a joint venture between Guardian Industries Corp., The National Company for Glass Investments (Zoujaj) of Saudi Arabia and Zamil Group also of Saudi Arabia, has signed a seven-year $100 million loan facility agreement. While BNP Paribas, Mashreqbank and SAMBA Financial Group are the MLAs, Bank of Baroda joins as a Lead Arranger. BNP was the book-runner while Mashreqbank has assumed the role of a Facility Agent and Security Agent.

Guardian RAK will use the loan to part finance its upcoming 700 tons per day float glass manufacturing unit in Ras Al-Khaimah. The facility is divided into a term loan component of $75 million with the remaining $25 million structured as a revolving credit line.

The National Company for Glass Industries (Zoujaj) is a Saudi joint stock company producing returnable and non-returnable glass containers of various types and sizes for soft drinks, juices and the food industry.

© The Saudi Gazette 2006