Bank of Tokyo-Mitsubishi (bookrunner), KBC Bank (bookrunner), Natexis Banques Populaires (bookrunner), Coperatieve Centrale Raiffeisen-Boerenleenbank, Standard Chartered Bank (facility and documentation agent), Westdeutsche Genossenschafts-Zentralbank and WestLB, London (bookrunner) are all mandated lead arrangers.
The facility is for refinancing and general trade finance purposes.
The loan is a syndicated dual tranche revolving credit facility and resulted in an oversubscription. The borrower elected to increase the facility size from the initial launch amount of US$150mn.
Tranche A is a 364-day loan with a 364-day extension option at the lenders “discretion. Tranche B is for three years.
The margin for tranche A is Libor plus 35bp per year. For tranche B it is Libor plus 65bp.
There is a commitment fee which is 40% of the margin.
Arrangers are: Arab Investment Company; Arab Banking Corporation – Egypt; Barclays Bank; BayernLB; HSBC Bank; HSH Nordbank Luxembourg; Landesbank Baden-Wurttemberg, London; Mizuho Corporate Bank; RZB; San Paolo IMI.
Senior co-arrangers are: Bank of Taiwan; Mashreqbank; and Melli Bank.
Lead managers are: Hua Nan Commercial Bank; DZ Bank; Ghana International Bank; and LRP Landesbank Rheinland Pfalz.