Financial and Banking News
LOANS AND ISSUES
Banque de l'Agriculture et du Developpement Rurale (BADR):
The Algerian agricultural bank BADR last week mandated Arab Banking Corporation (ABC) to raise a $300mn syndicated loan on the eurocredit market. The eight-year loan has a five-year grace period, is fully underwritten by ABC, and carries a 0.5% spread over Libor for the first five years, dropping to 0.375% for the remaining three years. The mandate represents BADR's first...