Financial And Banking
LOANS AND ISSUES
ABC Arranges Two Far Eastern Deals
Arab Banking Corporation (ABC) has recently arranged two deals for Chinese and Korean borrowers. On 5 March, it signed a $42mn nine-year loan for Indar Travel Service Ltd to finance the construction of the Grand Hotel in Xian, in China's Shaanxi province. The loan is guaranteed by the Shaanxi United Finance and Investment Corporation, and is in two tranches. One tranche, of $3mn, is at 1.25% over Libor,...