Alpen Capital closes first Lebanon transaction
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.