Citibank Qatar arranges USD 850 million facility for Al Faisal holding company.Summary: Citibank N.A. recently arranged a seven-year USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 850 million syndicated facility for Al Faisal Holding Company, Qatar's leading diversified business group. The bank was the Sole Bookrunner for the transaction. Citibank Qatar arranges USD 850 million facility for Al Faisal holding company Transaction to finance al Faisal's ongoing projects Citibank N.A. recently arranged a seven-year USD 850 million syndicated facility for Al Faisal Holding Company, Qatar's leading diversified business group. The bank was the Sole Bookrunner for the transaction. On this occasion, Citi has organized a dinner party under the patronage of his Excellency HIS EXCELLENCY. A title given by the constitution of Massachusetts to the governor of that commonwealth. Const. part 2, c. 2, s. 1, art. 1. This title is customarily given to the governors of the other states, whether it be the official designation in their constitutions and laws or not. Sheikh sheikh or shaykh Among Arabic-speaking tribes, especially Bedouin, the male head of the family, as well as of each successively larger social unit making up the tribal structure. The sheikh is generally assisted by an informal tribal council of male elders. Fahed Bin Jassim Al Thani, Minister of Business & Trade with the attendance of the Deputy Governor, Sheikh Fahed bin Faisal Al Thani and the banks officials. The syndicated multi-currency (USD, AED AED - Automated Engineering Design and QAR QAR In currencies, this is the abbreviation for the Qatari Riyal. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) facility is the largest debt issue for Al Faisal Holding Company in terms of size and scope. Composed of both conventional and Islamic (Ijara and Murabaha) tranches, the facility will primarily be used to finance Al Faisal's further diversification plans as well as meet its growth needs in the near future. Other senior lenders in the transaction included al khaliji, Badr Al-Islami, Commercial Bank of Qatar and Qatar Islamic Bank (QIB QIB Qualified Institutional Buyer ) who participated as Mandated Lead Arrangers, while Qatar International Islamic Bank (QIIB), Arab Bank and Doha Bank joined in at the Lead Arranger level. The deal also included, United Bank Limited (UBL (Universal Business Language) A format for exchanging data from one XML business language to another. Based on ebXML Core Components, UBL is designed to provide a common language that acts as an intermediate vocabulary so that one XML vocabulary can interoperate with ) and Masraf Al Rayan. "This facility underscores our resolve to achieve our vision of becoming one of the most diversified business groups in the region through focused expansion," said H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Al Faisal Holding. "Citi's global expertise and network meet our aspiration for a truly global financial partner with the right distribution capabilities." Tarek M Al Sayed, Chief Financial Officer of Al Faisal Holding Company and Vice Chairman of Aamal Company Q.S.C., said, "The transaction heralds a big step forward for Al Faisal in fulfilling its growth needs and I thank all the banks who made commitments to our growth through this deal." Farhan Mahmood, CEO of Citibank N.A. Qatar, said: "Al Faisal and Citi have a shared goal of regional growth, and citi is privileged to have led this transaction on Al Faisal's behalf. We also thank all syndicate banks who supported this deal." David Proctor, Chief Executive Officer of al khaliji said: "al khaliji is delighted to support the growth ambitions of the Al Faisal Holding Company and the development of Qatar's economy." Al Faisal Holding Company commands a well-diversified business base, and is involved in a number of industries including real estate, trading, Transportation and Excavation, entertainment, education, services and construction sector. Citi has been present in the Arab World for nearly fifty years and continues to view the region as critical to its global franchise. It is currently present in ten Arab countries including Egypt, UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. , Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait. 2008 Al Bawaba (www.albawaba.com) 2008 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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