Financial and Banking News


Small Dong Ah Facility for Libyan MMR 

Dong Ah Construction Company Ltd has arranged a $50mn L/C and refinancing facility in connection with its work on the first phase of the Man Made River (MMR) project in Libya. Three Arab banks have shared the amount between them on an eqt1al basis. The deal allows Dong Ah to issue up to $50mn in L/Cs, of which half is available for re-financings of up to 90 days. It has a 12-month lifetime, with a...