TAIC, Bahrain to mandate loan facility for Export and Finance Bank, Jordan

A Consortium of regional, international banks and financial institutions have participated in the said Syndicated Term-Loan Facility.

The Facility with a mandate to raise USD 20 Million have been oversubscribed and the Mandated Lead Arranger / Agent has managed to raise USD 45 Million.

The following institutions have participated in the syndication:

The Arab Investment Company S.A.A. (TAIC) - Bahrain (The Arranger and Agent)
Doha Bank - Qatar
Commercial International Bank - Egypt
Arab Banking Corporations - Jordan
Jordan International Bank - U.K.
British Arab Commercial Bank - U.K.
Mashreq Bank - Dubai
National Bank of Kuwait - Jordan
Ahli Bank of Kuwait - Kuwait
Banque Audi SAL - Audi Saradar Group - Lebanon
State Bank of India - Bahrain
Arab Bank - Bahrain

The Purpose of the Facility, which was signed on Wednesday 30th of March 2005 in the Kingdom of Bahrain, by Mr. Ali Al-Husry, Chairman of Export & Finance Bank and Mr. Faisal M. Al Alwan, The General Manager of the Banking Unit of The Arab Investment Company S.A.A. in Bahrain, is to accommodate for the expansion plans of the Bank in all aspects of business.

The Export & Finance Bank was established in 1995 as a commercial and investment bank that operates in all areas of the financial sector. EFB offers a wide array of retail, commercial and investment banking products and services. EFB's principal activities include the provision of credit facilities to individuals & corporations, trade in marketable securities for the Bank and its customers, a wide range of corporate finance activities and as a Broker at the Amman Stock Market as well as International Stock Markets.

This year's outstanding performance of the Bank was further supported by its first financial strength rating of (BBB-) by Capital Intelligence (CI), which placed EFB among the top tier banks in Jordan. In addition, CI described its management as "well regarded in the local market and clear business strategies are in place aimed at further consolidating the business franchising." CI also commended EFB's overall solid performance in the Jordanian banking sector "Export & Finance bank (EFB), which was established in 1995 as a commercial and investment bank to provide a wide array of banking and investment products and services to corporate and individual customers, has built a successful business franchise during its comparative short history."

The mandated Lead Arranger and Agent, The Arab Investment Company (TAIC) is an Arab Joint-Stock Company owned by 17 Arab governments with its Head Office in Riyadh, Kingdom of Saudi Arabia. The main activity of the Company's Head Office is equity participation in commercially viable projects in the member countries. The shareholders' equity at the end of year 2004 stood at US$593 Million supporting total assets of approximately US$2,268 Million. The Chairman of the Board of Directors is H.E. Dr. Muhammad Suleiman Al Jasser, Vice Governor of the Saudi Arabian Monetary Agency.