HSBC Signs $500Mn Credit Line With Six Iranian Banks
The UK banking group HSBC on 3 December signed an agreement with six Iranian banks to extend a $500mn, 10-year credit line. The credit will provide a basis for loans, secured by leading ECAs and a sovereign guarantee, to finance infrastructure projects in Iran. The Iranian banks participating in the deal are Bank Melli, Bank Saderat, Bank Mellat, Bank Tejarat, Bank Sepah and the Export Development Bank.
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