Middle East Economic Survey

VOL. LII

No 23

8-Jun-2009

UAE

IPIC Launches Syndication For $3.5Bn Corporate Loan

IPIC has launched a syndication of a $3.5bn corporate loan that it has received from initial mandated lead arrangers (MLAs) Bank of Tokyo Mitsubishi, HSBC and Santander, MEES learns. While the syndication market has effectively been shut for project finance in the wake of the financial crisis, with sponsors and their advisors preferring to club deals, a number of syndications have been...