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Article: SCB arranges regional syndications.(Standard Chartered Bank PLC invests in Standard Chartered Bank PLC)(Brief Article)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- July 1, 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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Standard Chartered Bank (SCB) has successfully closed two syndicated loans, for Ahwaz Pipe Mills International and National Bank of Umm al-Quwain, and has also been mandated to arrange a borrowing for Iran's Khouzestan Steel Company (KSC).
Nine banks joined the Eur 200 million ($243.3 million) Ahwaz Pipes deal at syndication. They were: Abu Dhabi Commercial Bank, Ahli United Bank, Arab Banking Corporation, Commercial Bank of Qatar, EIH Bank, Emirates Bank, Gulf International Bank, National Bank of Dubai (NBD) and SCB. The facility has an average life of 12 months and was priced at 275 basis points (bp) over Libor. Ahwaz Pipe Mills International is based at Jebel ...