Financial and Banking News

LOANS AND ISSUES

ABC and GIB to Lead Greek Credit

Arab Banking Corporation (ABC) and Gulf International Bank (GIB) are playing leading roles in the $300mn mandate awarded last week by the Hellenic Telecommunications Organisation (OTE). GIB is preparing the information memorandum, while ABC is acting as co-ordinator for Arab banks. There were extensive negotiations over the deal, for which the borrowers were seeking a prestigious 0.5% spread over Libor. The...