Bank ABC arranged $125 million loan for BCFC

MANAMA: Bahrain Commercial Facilities Company (BCFC) has successfully closed a $125 million syndicated loan facility.

The new facility has two-year and five-year dual tranches.

It was arranged by Bank ABC in its capacity as the sole initial mandated lead arranger, bookrunner and facility agent.

The purpose of the new facility was to repay its $55m syndicated loan that matured in June this year and to fund continued growth in the BCFC lending portfolio and for other general business needs.

For the syndicated loan, Ahli United Bank, BBK and NBB joined as mandated lead arrangers.

RAKBank was the lead arranger and Al Ahli Bank of Kuwait was the arranger.

The syndication received a positive response from the market with a total of six banks participating from Bahrain, Kuwait and the UAE that resulted in a significant oversubscription.

Listed on the Bahrain Bourse, BCFC offers vehicle loans, mortgage loans, personal loans, corporate loans and credit cards.

It also provides insurance products, real estate services and operates automobile dealerships.

Source: http://www.gdnonline.com/Details/247802

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