Sunday 01, April 2018 by William Mullally

Saudi Arabia closes expanded $16 billion loan, adding Islamic finance tranche

The Islamic finance tranche was a new addition for the deal, Reuters reported, as was the extension of two years to 2023.

  

Saudi Arabia has closed an increased $16 billion syndicated loan that refinances a $10 billion facility signed in 2016, Reuters has reported. 

According to Reuters, the deal was closed on 19 March, with $8.35 term loan and 7.65 in Murabahah Shari’ah-compliant financing. Coordinators,  bookrunners and mandated lead arrangers included HSBC, JP Morgan and MUFG, with Bank of China, Citibank, Credit Agricole, ICBC, Mizuho Bank, Standard Chartered and SMBC joined as well as mandated lead arrangers, with BoA Merill Lynch, Deutsche Bank and Morgan Stanley lead arrangers, according to Thomson Reuters data.

The Islamic finance tranche was a new addition for the deal, Reuters reported, as was the extension of two years to 2023.

 

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