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Mashreqbank is returning to the loan market after more than a decade as the UAE lender taps Asia for a $1.5 billion financing facility, according to LPC.
The financing is split into a $1 billion three-year portion and a $500 million five-year facility, and carries an accordion option, LPC reported, adding that only the five-year loan is being syndicated with an interest margin of 95bps over SOFR.
Agricultural Bank of China, ANZ Singapore branch, Bank of America Europe, Bank of China, Barclays, China Construction Bank (Asia) and DIFC branch, Fubon Bank (Hong Kong), Mizuho Bank, MUFG, Standard Chartered Bank and Taipei Fubon Commercial Bank are the mandated lead arrangers and bookrunners.
Citibank London branch and Korea Development Bank have joined as lead managers and bookrunners before the launch of general syndication.
Proceeds will be used for general corporate purposes.
(Writing by Bindu Rai, editing by Seban Scaria)
