Manama, Bahrain: Arab Banking Corporation (B.S.C.) (ABC), National Bank of Bahrain B.S.C. (NBB) and BNP Paribas (BNPP), acting as the Mandated Lead Arrangers, successfully closed a US$55 million 4-year Term Loan Facility on behalf of Bahrain Commercial Facilities Company (BCFC). The purpose of the Facility, which was signed on 20 June 2013, is to support BCFC’s growing business activities in Bahrain.
A celebratory dinner was held on 17 July 2013 at The Ritz-Carlton Bahrain Hotel, attended by senior representatives of BCFC, ABC, NBB and BNPP.
At the dinner, Chief Executive Officer of BCFC, Dr. Adel Hubail, thanked all the participating banks—Arab Banking Corporation, National Bank of Bahrain and BNP Paribas—for their support in successfully closing this syndication. He mentioned that “The successful closing of this Facility is a testament of BCFC’s solid and stable financial standing in the capital markets. Success of the successive transaction in the last 6 months also reflects the underlying strengths, sound business model, strong management expertise, prudent risk management and overall growth strategy adopted by the Company.”
Commenting on the successful closure, Mr. John McWall, ABC’s Head of Syndications, said: “On behalf of the lending group, we are delighted to have been given this opportunity to work once again with Bahrain Commercial Facilities Company, and the successful closing of this financing reflects the long-standing close relationship between our institutions and the Company.”
Mr. Abdul Razak AlQassim, NBB CEO & Director added: “We are pleased to be part of this important transaction and we wish Bahrain Commercial Facilities Company every success in this venture. At NBB, we look forward to strengthening the economy of the Kingdom through future transactions with such leading organizations.”
Jean-Christophe Durand, Regional Chief Executive Officer, BNP Paribas in MEA, added: “We are delighted to have been able to respond to and meet the requirements of one of our longest standing clients in Bahrain with this facility. In doing so, we were able to continue our commitment to supporting the local economies in which we operate.”