Bank ABC Closes $125 Million Syndicated Loan for Bahrain Commercial Facilities Company
Press release
A celebratory event was organized to mark the successfully transaction on July 30.
Bahrain Commercial Facilities Company B.S.C. (“BCFC’) has successfully closed a US$125 million Syndicated Loan Facility (“Facility”). The new Facility has 2-year and 5-year dual tranches. The Facility was arranged by Bank ABC in its capacity as the Sole Initial Mandated Lead Arranger, Bookrunner (“IMLAB”) and Facility Agent. The purpose of the new Facility was to repay its US$ 55 million syndicated loan matured in June 2017 and to fund continued growth in the BCFC lending portfolio and for other general business needs. BCFC organized a celebratory event on 30th July to mark the successfully transaction.
For the syndicated loan, Ahli United Bank B.S.C., BBK B.S.C. and National Bank of Bahrain B.S.C. joined as Mandated Lead Arrangers.
The Facility received a positive response from the market with a total of six banks participating from Bahrain, Kuwait and United Arab Emirates that resulted in a significant oversubscription.
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Background Information
Bank ABC
Bank ABC (incorporated as Arab Banking Corporation B.S.C) is an international bank headquartered in Manama, Kingdom of Bahrain. Our network spreads across five continents, covering countries in the Middle East, North Africa, Europe, the Americas and Asia.
Bank ABC, founded in 1980, is listed on the Bahrain Bourse and our major shareholders are the Central Bank of Libya and Kuwait Investment Authority.
Bank ABC is a leading provider of Trade Finance, Treasury, Project & Structured Finance, Syndications, Corporate & Institutional Banking as well as Islamic Banking services. We are also expanding our retail banking network in the MENA region.
Bank ABC is licensed as a conventional wholesale bank by the Central Bank of Bahrain.
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