JEDDAH, 12 May 2007 — Gulf International Bank B.S.C. (GIB) signed yesterday in London a new $1.2 billion syndicated loan facility.
In a statement sent to Arab News yesterday, the bank said the facility was launched into syndication on April 2 and was “extremely well received by the market and was oversubscribed to an amount of $l.46 billion.”
The facility was fully-underwritten and arranged by the following Initial Mandated Lead Arrangers: ABN Amro Bank N.V., Arab Bank plc, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Barclays Capital (the investment banking division of Barclays Bank PLC), Bayerische Landesbank, BNP Paribas, Calyon, Commerzbank Aktiengesellschaft, Mizuho Corporate Bank, Ltd., The Royal Bank of Scotland plc, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation Europe Limited. During the signing ceremony, Dr. Khaled M. Al-Fayez, GIB’s chief executive officer, said: “We are pleased with the support we received from the international banking community. This loan is probably one of the largest loans arranged for a Middle Eastern bank and reflects the confidence in GIB’s strength and sound business strategy.”
“GIB’s GCC-focused merchant banking strategy has resulted in a significant improvement in the diversification and quality of its revenues,” he added.
