VOL. XL

No. 18

5-May-1997

SAUDI ARABIA

CIB Syndicated Loan Oversubscribed As 1996Profits Grow 11%

Chase Investment Bank and Union Bank of Switzerland announced on 1 May theclosing of a syndicated 3-year term loan for Commercial International Bank (CIB), Egypt'spreeminent private sector bank (MEES, 17 March). Commerz bank and ING Barings joined the deal asarrangers. The loan was oversubscribed by two-and-a-half times and was raised from an initial$100mn to $200mn, achieving its pricing of 40bps....