Proceeds of the Facility will be used for general funding purposes and the transaction will carry a margin of 40 basis points per annum plus front-end fees.
The senior stage of syndication of the above-mentioned facility was launched yesterday to regional and international relationship banks of Commercial Bank of Kuwait. The response has been very positive with SANPAOLO IMI S.p.A. joining the transaction as Lead Arranger and sub-underwriter.
Arab Banking Corporation (B.S.C.) and Sumitomo Mitsui Banking Corporation Europe Limited plc will act as Joint Bookrunners. In addition, Arab Banking Corporation (B.S.C.) will act as the Facility Agent and Sumitomo Mitsui Banking Corporation Europe Limited as the Documentation Agent.
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Arab Banking Corporation and Sumitomo Mitsui Banking Corporation announces arrangement on behalt of Commercial Bank of Kuwait
- United Arab Emirates: Tuesday, December 09 - 2003 at 13:32
- PRESS RELEASE
Arab Banking Corporation (B.S.C.) and Sumitomo Mitsui Banking Corporation Europe Limited (the 'Mandated Lead Arrangers') are pleased to announce that they have been mandated to arrange and syndicate on behalf of Commercial Bank of Kuwait a three-year USD 250 million term loan facility (the 'Facility').
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About Commercial Bank of KuwaitCommercial Bank of Kuwait. was established in 1961 and is the third largest commercial bank in Kuwait by asset size and capitalisation. The Bank operates the second largest retail network in Kuwait with 36 branches giving it a strong position in the domestic retail market. The Bank's financial performance in recent years has been marked by strong capital ratios, continued improvement in asset quality and increased profitability.
Posted by Christine H. Andersen, Assistant News EditorTuesday, December 09 - 2003 at 13:32 UAE local time (GMT+4)
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This article was updated on Tue Sep 12 2006.
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