IslamicFinance.de

The Royal Jordanian Airlines announced the successful closure of its US$ 275,000,000 dual conventional and Islamic secured syndicated facility. The syndicate comprised of seven banks based in Jordan, UAE and Qatar; they are Mashreq, Arab Bank plc, Al Khalij Commercial Bank (Al Khaliji) Q.S.C, Dubai Islamic Bank, and The Commercial Bank/Qatar acting as Mandated Lead Arrangers, Arab Jordan Investment Bank as Lead Arranger and Bank al-Etihad as Arranger. Mashreq Bank acted as the sole book-runner for the loan. The facility carries a tenor of 5 years and the proceeds of the facility will be primarily utilized to consolidate and refinance RJ's existing debt and further support the company's on-going strategic growth and turnaround plans on the short- and medium-run.