Dubai-Mubasher: A group of UAE and Oman banks along with Asian Development Bank (ADB) managed to fund a $69 million facility through a syndicate loan for LOLC Finance in Sri Lanka.
Dubai-based Alpen Capital (ME) acted as the financial advisor to LOLC Finance, according to a recent statement.
The syndication was structured to house 2 tranches: Tranche A, which is for a period of 7 years, has been funded completely by ADB. Tranche B, which is for a period of 3 years, has been funded by Bank Muscat , FGB, Emirates NBD, National Bank of Oman and Rakbank.
ADB acted as the lender of record for both the tranches and Bank Muscat and FGB acted as the Mandated Lead Arrangers for Tranche B.
