Investment banking advisory firm, Alpen Capital, Abu Dhabi, has closed its first transaction in Lebanon for Lebanon & Gulf Bank S.A.L (LGB), one of the leading banks in the country to raise a Syndicated Senior Term Facility of $67.5 million with a trio of DFIs.
The Syndication was led by FMO, the Dutch Development Bank who acted as the Arranger and Facility Agent with $32.5 million. The other participants are OPEC Fund for International Development (OFID) of Austria with $20 million and OeEB, the Development Bank of Austria with $15 million. All three DFIs provide financing for social and economic growth in developing countries and emerging markets.
The transaction is also the first syndication in Lebanon for a local bank. The funding will be utilised by LGB to support its strategy towards expanding their lending to SMEs.
The Syndication was led by FMO, the Dutch Development Bank who acted as the Arranger and Facility Agent with $32.5 million. The other participants are OPEC Fund for International Development (OFID) of Austria with $20 million and OeEB, the Development Bank of Austria with $15 million. All three DFIs provide financing for social and economic growth in developing countries and emerging markets.
The transaction is also the first syndication in Lebanon for a local bank. The funding will be utilised by LGB to support its strategy towards expanding their lending to SMEs.
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