Article: MTC murabaha closed.(MTC Kuwaiti Cellular Telephone Co. contracts mandated lead arrangers )(Brief article)

Syndication has closed of a $750 million syndicated murabaha for local telecoms operator MTC. The one-year facility was priced at 50 basis points (bp) over Libor for the first six months and 60 bp for the remainder of the term. The six mandated lead arrangers (MLAs) were joined by 14 banks. The funds will be used to part pre-pay a $2,400 million bridge loan taken out in May to finance the acquisition of Amsterdam-based Celtel (MEED 13:1:06).

Mandated lead arrangers

* Arab Bank

* ABC Islamic Bank

* Calyon

* Gulf International Bank

* Kuwait Finance House

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