Middle East Economic Survey
VOL. XLVIII
No 51
19-December-2005
IRAN
Esfahan Steel Company Secures $70Mn Morabaha Facility
ABC Islamic Bank and Emirates Islamic Bank announced on 12 December the joint mandate for a $70mn, three-year Murabaha Financing Facility for Irans Esfahan Steel Company (ESCO). The facility is guaranteed by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and enjoys a margin of 348 bps and top ticket fees of 100 bps. The proceeds of the...
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