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Friday, 27 November 2009 14:51 UAE time

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Arab Bank in Sabic syndication

by ArabianBusiness.com staff writer  on Monday, 12 November 2007

Arab Bank has signed a $6.1 bn loan agreement as part of consortium to part-fund Sabic Innovative Plastic's acquisition of GE Plastic.

The bank will act as mandated lead arranger in the transaction, which includes regional and international banks.

Abdel Hamid Shoman, CEO and chairman of Arab Bank, said that he was proud that the bank had been selected as MLA from among its international peers, reflecting the confidence investors have in the bank.

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He added that Arab Bank's participation in the transaction reflects the bank's strategy of financing more major commercial schemes in the region's strategic sectors.

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READER COMMENTS

  1. Deal sought on Dubai World, Nakheel debts 15
    27 Nov ' 09 at 12:16
    We are looking at realistic action on the current situation, these investments are heading for, which I strongly feel is a positive...   More  »
  2. Dubai debts crisis: latest news 04
    27 Nov ' 09 at 11:41
    Many of us believe in the great achievements of Dubai. But bleating passionate rhetoric in favor of the greatness of our City will not...   More  »
  3. UAE real estate market has now hit bottom - analysts 03
    27 Nov ' 09 at 00:48
    Arabian Business has serious credibility issues to serve up this slop after Dubai has just defaulted. What expert analysts? Send them...   More  »

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