The term loan will be used by Star Cement to establish a 2.15 MTPA clinker manufacturing plant in the Emirate of Ras Al Khaimah.
The syndicate of banks, in addition to ADCB and GIB, comprises of: Ahli United Bank, First Gulf Bank, National Bank of Abu Dhabi, British Arab Commercial Bank, United Arab Bank, Ahli Bank of Qatar, Commercial Bank of Dubai and State Bank of India.
GIB is the loan facility agent and National Bank of Abu Dhabi is the security agent.
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Star Cement signs USD 104 million term loan facility
- United Arab Emirates: Thursday, November 16 - 2006 at 13:02
- PRESS RELEASE
Star Cement, part of ETA/Star Group, signed yesterday a USD 104 million term loan facility agreement with a syndicate of banks lead by the mandated lead arrangers: Abu Dhabi Commercial Bank (ADCB) and Gulf International Bank (GIB).
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Notes and media contacts
For further information, please contact:Mr. Saleh Al-Jaroodi at GIB Bahrain:
Tel (+973) 17 522 553 / Fax (+973) 17 522 633.
Posted by Janeta Novakovic, Assistant News EditorThursday, November 16 - 2006 at 13:02 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Mon Feb 19 2007.
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