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Successful close of US $500 million syndicated revolving loan facility

Bahrain: Sunday, December 17 - 2006 @ 14:48

The syndication comprised 30 banks across North America, Europe, Asia, Middle East and North Africa. The facility was initially launched at US $300 million, but strong interest from new and existing lenders led to significant commitments of over $850 million, resulting in a total facility of US $500 million and no general syndication.

JP Morgan Chase and Dresdner Kleinwort were joint bookrunners.

Investcorp’s Chief Operating Officer, Gary Long, said: “We are delighted with the support we have received from the banks who have partnered with us. Banks from across all four continents participated in the financing of this facility reflecting the breadth and depth of the relationships that Investcorp has built over the years and the strong commitment by the banking community to our growing business.

“The syndicated loan establishes a new source of accessible funding for the balance sheet and will be used to fund underwriting of multiple and concurrent acquisitions.”

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Sunday, December 17- 2006 @ 14:48 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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