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Banque Saudi Fransi Launches $300 Million Syndicated Loan - ASHARQ AL-AWSAT English Archive
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LONDON, (Reuters) – Banque Saudi Fransi, Saudi Arabia’s fifth-largest bank by assets, has launched syndication of a $300 million loan via bookrunners Calyon, Intesa Sanpaolo, RZB, SMBC and WestLB, the lenders announced on Friday.

The deal, which is for general corporate purposes, is split between a three-year tranche A paying a margin of 70 basis points (bps) over LIBOR and a five-year tranche B that pays 100 bps.

Participating banks are able to commit to either tranche or both tranches.

Lenders are invited to commit at one of four levels and the top $35 million ticket pays an upfront fee of 60 bps on the A tranche and 125 bps on the B facility.

Banque Saudi Fransi last tapped the loan market in June 2005, when it signed a $650 million, five-year term loan that paid a margin of 35 bps.

Calyon holds an equity interest of 31.1 percent in the borrower.

The bank is rated A by Fitch and Standard & Poor’s, and Aa3 by Moody’s.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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