Bank ABC closed a $125 million Syndicated a Dual Tranche Syndicated Term Loan Facility
Bahrain Commercial Facilities Company B.S.C. (“BCFC’) has successfully closed a $125 million Syndicated Loan Facility (“Facility”).
The new Facility has two-year and five-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 $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 organised a celebratory event on 30 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.