Dubai-Mubasher: Dubai-listed Mashreq Bank announced the signing of $100 million syndicated medium term loan facility for financing general corporate requirements of SK Engineering & Construction Co., according to the bank’s statement on Sunday.
The syndicated loan deal was inked in cooperation with a consortium including Mashreq, Al Ahli Bank of Kuwait, and Commercial Bank of Kuwait.
Mashreq acted as the exclusive arranger and book runner for this transaction, while ABK and CBK acted as joint lead arrangers.
The facility is part of the company’s plan to tap liquidity in the GCC financial markets given their upcoming financing requirements in relation to their Middle East projects.
The loan represents an important advancement in the South Korean company’s relationship with the regional banks through availing loans for general corporate purposes.
