Middle East Economic Survey

VOL. LII

No 26

6-Jul-2009

UAE

IPIC Secures $5Bn Corporate Loan

The International Petroleum Investment Company (IPIC) signed an agreement to receive a corporate loan on 28 June, following successful completion of a syndication by initial mandated lead arrangers (MLAs) Bank of Tokyo Mitsubishi, HSBC and Santander. The banks coming into the deal took commitments up to $6.4bn, so the final amount was increased from the originally requested $3.5bn to $5bn, MEES learns....