IslamicFinance.de

ABC Islamic Bank (the Initial Mandated Lead Arranger and Bookrunner) launched general syndication for Kuwaits Munshaat Real Estate Projects Company ("Munshaat"). ABC Islamic Bank had successfully closed the senior phase of the US$100 million, 3-year Syndicated Revolving Murabaha Financing Facility.
 
Prior to general syndication BNP Paribas, Emirates Bank International PJSC, and Saudi British Bank joined the facility as Mandated Lead Arrangers at the senior stage.
 
This is the debut syndication for Munshaat and the funds will be used to finance development of prime properties in the Holy Haram area in Makkah and Madinah in Saudi Arabia. Athman Investment Company, Kuwait is acting as the financial advisor to Munshaat Real Estate Projects Company for this financing.
 
Summary of the facility is as follows:
 
Borrower: Munshaat Real Estate Projects Company K.S.C.
 
Amount: US$100 million
 
Facility Type: Revolving Murabaha Financing Facility Purpose: Financing of prime properties in Makkah & Madinah