Dubai – Mubasher: Mashreq bank has coordinated a two-tranche $100.7 million (AED 369.88 million) syndicated loan secured by Stanbic Bank Kenya.
The proceeds of the two tranches loan– with two- and three-year maturity, respectively – will be utilised to fund the general purposes of the Kenyan bank, according to an official statement.
Oversubscribed by 2.5 times, the syndicated loan was arranged by 14 financial institutions.
