Financial and Banking News

LOANS AND ISSUES

Instituto de Credito Official: Banco Arabe Espanol (Aresbank) was the sole lead manager of a $65mn renegotiation of a loan for ICO, the official Spanish government finance agency. ABC, Gulf International Bank (GIB) and the Libyan Arab Foreign Bank (LAFB) participated in the deal, which was signed last month. It provided the funds for five years at a spread of 25% over Libor. The original loan was signed in mid-1980 for $75mn with a nine year...