Zain SA extends financing

Published on 03.02.2012

Zain Saudi Arabia announced that its Murabaha investors have consented to extend the maturity of itsSAR9.75bn (US$2.6bn) facility for an additional six months.
The extension for the facility, which will now mature on July 27, 2012, is seenas an important endorsement by the Murabaha investors of Zain’s business plan and prospects. The facility was originally raised in 2009 with an option to extend for 12 months. Al Rajhi Bank, Banque Saudi Fransi and Calyon acted as Initial Mandated Lead Arrangers and Bookrunners, while National Bank of Kuwait (NBK) and Arab National Bank (ANB) acting as Senior Mandated Lead Arrangers and Bookrunners. Saudi British Bank (SABB) acted as the Senior Mandated Lead Arranger with Gulf Bank and Standard Bank acting as Mandated Lead Arrangers.