UnderwritingGroup Agreed For Luberef Loan
Six banks are expected to underwrite the $125mn loan for Luberef, the Saudi lubeoil refining venture. The six are Emirates Bank International (EBI, thearranger), Arab Banking Corporation, the Arab Investment Company, CommercialBank of Dubai, National Bank of Bahrain, and National Bank of Rasal-Khaimah. EBIsnatched the mandate from a group of Saudi and regional banks who had put in anearlier offer. Draw down...