Batelco Secures $485M LoanBatelco Secures $485M Loan

Batelco raises $485M to fund its expansion plans in the Middle East and Africa

April 10, 2007

2 Min Read

HAMALA, Bahrain -- In its ongoing drive to maintain and grow its position as the leading integrated communications provider in Bahrain and the region, Batelco, Bahrain Telecommunication Company, has signed an agreement with a consortium of regional and international banks. Arab Banking Corporation (B.S.C.) and Standard Chartered are the Initial Mandated Lead Arrangers and Underwriters for the debut US$485 million loan to fund Batelco's regional expansion plans in the MENA region.

The two major banking institutions, ABC and Standard Chartered, have arranged the debut financing which received strong response from the international and regional bank market and was oversubscribed by more than 60%. The syndicated bank group comprises of 14 other regional and international banking institutions in addition to the underwriters ABC and Standard Chartered:-

Mandated Lead Arrangers:

National Bank of Bahrain B.S.C.

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

JPMorgan

Mizuho Corporate Bank, Ltd.

National Bank of Abu Dhabi

The Royal Bank of Scotland plc

SG Corporate & Investment Banking

Lead Arrangers:

Bank of China (Hong Kong) Limited

Raiffeisen Zentralbank Österreich Aktiengesellschaft

Arrangers:

Ahli United Bank B.S.C.

BBK B.S.C.

The Export-Import Bank of the Republic of China

Intesa Sanpaolo S.p.A., Singapore Branch

Landesbank Baden-Württemberg, London Branch

The signing ceremony took place at Batelco's Hamala Headquarters, 10th April. In attendance were Batelco Chairman Shaikh Hamad bin Abdulla Al Khalifa, Batelco Chief Executive Peter Kaliaropoulos, ABC Head of Syndications John McWall, ABC VP Syndications Umer Sultan, Standard Chartered Bank - Bahrain CEO Martin Fish, Standard Chartered Bank Regional Head of Client Relationships Middle East and North Africa John Iossifidis, plus a number of officials from Batelco, the participating banks and legal representative Norton Rose.

The debut three-year Syndicated Term Loan Facility for Batelco originally set at $300 million was oversubscribed by 60% and subsequently increased to $485 million.

"This loan agreement is a positive response to Batelco from 16 major financial institutions and indicates strong support for the Kingdoms' leading telecommunications company," stated Shaikh Hamad.

"Moreover, the loan facility will enable Batelco to realise its aspirations to grow the company regionally and become an increasingly dominant force in the integrated communications industry in Bahrain and MENA," he added.

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