26 December 2004
Arab Banking Corporation (B.S.C.) announces that it has been mandated by Bank Mellat to underwrite a US$240 million, 5 year Term Advance Facility. The proceeds of the facility will be made available for six municipality projects in the reconstruction and integration of old buildings in designated districts of Tehran, Ahwaz, Isfahan, Kermanshah, Mashad and Tabriz. The facility was signed in Manama on 15th December, 2004 in the presence of representatives of Arab Banking Corporation (B.S.C.), the Central Bank of the Islamic Republic of Iran, Bank Mellat and the Ministry of Economic Affairs and Finance of the Islamic Republic of Iran.
Arab Banking Corporation (B.S.C.) announces that it has been mandated by Bank Mellat to underwrite a US$240 million, 5 year Term Advance Facility. The proceeds of the facility will be made available for six municipality projects in the reconstruction and integration of old buildings in designated districts of Tehran, Ahwaz, Isfahan, Kermanshah, Mashad and Tabriz. The facility was signed in Manama on 15th December, 2004 in the presence of representatives of Arab Banking Corporation (B.S.C.), the Central Bank of the Islamic Republic of Iran, Bank Mellat and the Ministry of Economic Affairs and Finance of the Islamic Republic of Iran.
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Bank Mellat was formed on 20th December, 1979 as an amalgamation of ten former private banks. It is the Islamic Republic of Iran's third largest Bank and is 100% owned by the Government.
Press Release 2004
