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Article: MLAs selected for Qasco debt.(mandated lead arrangers)(Qatar Steel Company Ltd.)(Brief Article)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- April 22, 2005
CopyrightCOPYRIGHT 2005 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A group of 17 banks is close to being appointed as the mandated lead arrangers (MLAs) on the debt package for the Qatar Steel Company (Qasco) expansion project. Standard Chartered Bank is acting as financial adviser (MEED 11:3:05).
All the banks that responded to the preliminary information memorandum (PIM) sent out in March are set to be mandated, with documentation due for completion by mid May. A limited syndication will later be launched, to bring in banks at a lower level and to satisfy the desire of some of the MLAs to reduce their holdings. "The idea behind such a large MLA group is that banks do not clog up their credit limits for QP [Qatar Petroleum] ...