Publication Date:
Fri, 2010-09-24 00:11
The deal is likely to be structured as a conventional
financing rather an Islamic loan, one of the bankers added, and will be new
money rather than a refinancing, two bankers said.
Zain’s previous loan was a $1.2 billion Islamic financing
that signed in April 2008.
That murabaha financing, arranged by bookrunners BNP
Paribas, Calyon and DBS, matured in December 2008 and was priced at 75 basis
points over LIBOR, according to Thomson Reuters LPC data.
In June, Zain and Bharti Airtel closed a $9 billion deal for
the Kuwaiti firm’s African assets excluding Sudan and Morocco.
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