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Article: Arcapita raises US$1.1 billion in oversubscribed murabaha offering.
- Article from:
- Middle East and North Africa Business Report
- Article date:
- April 16, 2007
CopyrightCOPYRIGHT 2007 Middle East and North Africa Business Report. 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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Apr. 16--Arcapita Bank B.S.C.(c), a leading international investment firm headquartered in Bahrain, announceD that having generated a total demand of more than US$1.3 billion for its five year Syndicated Murabaha Facility, the issue was increased in size from its initial target amount of US$500 million and has closed at US$1.1 billion.
The proceeds of the Facility will be used to re-finance Arcapita's outstanding US$210 million Multicurrency Sukuk due 2010, as well as for general corporate purposes.
The underwriters for the transaction were Barclays Capital, the investment banking division of Barclays Bank PLC, DBS Bank Ltd, European Islamic Investment ...