Emirates NBD joins Black Sea bank loan.
Byline: Greece-headquartered lender seeks $90m syndicated term facility to refinance debt.
Dubai: Black Sea Trade & Development Bank (BSTDB BSTDB Black Sea Trade and Development Bank ) has mandated Bayerische Landesbank (BayernLB), Emirates NBD, Intesa Sanpaolo (ISP) and Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation (SMBC, Mitsui Sumitomo Ginkō, 三井住友銀行) is a Japanese bank based in Tokyo, Japan. Europe Limited (SMBCE SMBCE Sumitomo Mitsui Banking Corporation Europe Limited ) to arrange a $90 million syndicated term loan facility.
BSTDB is an international financial institution established as a multilateral development bank A multilateral development bank (MDB) is an institution, created by a group of countries, that provides financing and professional advising for the purpose of development. MDBs have large memberships including both developed donor countries and developing borrower countries. under a UN registered treaty in 1994. The bank is headquartered in Greece, and the shareholders are Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russian Federation, Turkey and Ukraine.
The syndicated facility will comprise two tranches with maturities of one year (Tranche A) and two years (Tranche B), respectively. The facility pays a margin of 70 basis points for Tranche A and 100 basis points for Tranche B. Proceeds under the facility will be used by BSTDB to refinance its $150 million syndicated term loan facility dated November 22, 2007 taken for general corporate funding purposes.
A[umlaut] Al Nisr Publishing Al Nisr Publishing is a company based in Dubai, UAE. The company is a part of Al Tayer Group. It was established in 1985 by Obaid Humaid Al Tayer, Abdullah Al Rostamani and Juma Al Majid. It employs 1,050 people and has branches in Manilla, Bahrain, Abu Dhabi and Sharjah. LLC 2007. All rights reserved.
Provided by Syndigate.info an Albawaba.com company