Gulf International Bank B.S.C. is acting as Mudareb in connection with the Facility and Al Rajhi as Purchaser.
This is Al Rajhi's debut international syndicated financing. By entering into this Facility, Al Rajhi seeks to broaden and diversify its funding base and to further develop its existing and prospective bank relationships in the GCC region, in Europe and beyond.
The Facility is structured as a 3-year fixed rate Murabaha financing facility with a yield of 0.30% per annum over the reference 3-year fixed rate.
The Facility has been fully underwritten by the Mandated Lead Arrangers Arab Bank plc, CALYON, Gulf International Bank B.S.C., Malayan Banking Berhad, Standard Chartered Bank and WestLB AG, London Branch. CALYON and Gulf International Bank B.S.C. are acting as Bookrunners for the Facility. CALYON has acted as Financial Advisor to ARBIC for the Facility.
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Syndication of the $300 million syndicated Murabaha Financing Facility for Al Rajhi Banking and Investment Corporation launched
- Saudi Arabia: Thursday, November 17 - 2005 at 16:37
- PRESS RELEASE
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The Bookrunners CALYON and Gulf International Bank B.S.C. have launched syndication of the $300 million Syndicated Murabaha Financing Facility for Al Rajhi Banking and Investment Corporation ("ARBIC").
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Posted by Janeta Novakovic, Assistant News EditorThursday, November 17 - 2005 at 16:37 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 Apr 23 2007.
Notes and Media Contacts »
About Al Rajhi:
Al Rajhi is a fully Shari'a compliant bank based in the Kingdom of Saudi Arabia providing wholesale, retail and commercial banking products and services in addition to investment banking.
Al Rajhi is rated A- by S&P and by Capital Intelligence, Baa2 (Outlook Positive) by Moody's and BBB+ (Revision Outlook Positive) by Fitch.
Al Rajhi is the largest Islamic bank in the world, with total assets at 30 September 2005 of US$23.6bn and shareholders equity of US$ 2.9bn. It is the largest listed bank in the Kingdom of Saudi Arabia (KSA) and third largest listed institution in the GCC with a market cap of over US$ 40bn. Al Rajhi is the third largest bank in KSA in terms of assets.
The bank reported an exceptionally strong set of 3rd quarter 2005 results, with profits after tax increasing 82% to US$ 1,038mn.
Al Rajhi has the largest branch network (more than 400 branches) distributed throughout the Kingdom, the largest ATM network (1300 machines), over 8000 POS installed with merchants throughout the Kingdom and the largest customer base with more than two million clients.
For any enquiries in relation to this press release or the Facility, please contact the following:
Islamic Banking:
Arul Kandasamy, CALYON Bahrain
Tel: + 973 17 562 723
Masood Tyabji, GIB Bahrain
Tel: + 973 17 522 485
Syndication:
Saida Rzayeva, CALYON London
Tel: + 44 20 7214 5198
Rajan Malik, GIB Bahrain
Tel: + 973 17 542 763
Al Rajhi is a fully Shari'a compliant bank based in the Kingdom of Saudi Arabia providing wholesale, retail and commercial banking products and services in addition to investment banking.
Al Rajhi is rated A- by S&P and by Capital Intelligence, Baa2 (Outlook Positive) by Moody's and BBB+ (Revision Outlook Positive) by Fitch.
Al Rajhi is the largest Islamic bank in the world, with total assets at 30 September 2005 of US$23.6bn and shareholders equity of US$ 2.9bn. It is the largest listed bank in the Kingdom of Saudi Arabia (KSA) and third largest listed institution in the GCC with a market cap of over US$ 40bn. Al Rajhi is the third largest bank in KSA in terms of assets.
The bank reported an exceptionally strong set of 3rd quarter 2005 results, with profits after tax increasing 82% to US$ 1,038mn.
Al Rajhi has the largest branch network (more than 400 branches) distributed throughout the Kingdom, the largest ATM network (1300 machines), over 8000 POS installed with merchants throughout the Kingdom and the largest customer base with more than two million clients.
For any enquiries in relation to this press release or the Facility, please contact the following:
Islamic Banking:
Arul Kandasamy, CALYON Bahrain
Tel: + 973 17 562 723
Masood Tyabji, GIB Bahrain
Tel: + 973 17 522 485
Syndication:
Saida Rzayeva, CALYON London
Tel: + 44 20 7214 5198
Rajan Malik, GIB Bahrain
Tel: + 973 17 542 763
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