Financial and Banking News
LOANS AND ISSUES
Commercial Facilities Company Borrows $50mn
An extremely rare local syndication has surfaced in Kuwait for Commercial Facilities Company, a consumer finance company. The $50mn loan is for three years and carries a 1.5% spread over Libor with a 0.25% commitment fee. KFTCIC is acting as agent bank for the transaction, which includes Alahli Bank of Kuwait, ABC, Libyan Arab Foreign Bank and al-Bank al-Saudi al-Fransi as lead managers.