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Investcorp closes $550mln syndicated term loan

By Zawya

By Staff Writer

Investcorp, a Bahrain-based alternative investment company, has closed a $550 million syndicated term loan, comprising conventional and Islamic tranches.

The transaction was initially launched at $400 million but was upsized following “significant oversubscription” and commitments that “exceeded the initial target,” Investcorp said.

Proceeds from the senior unsecured financing will be used for general corporate purposes, including supporting the company’s ongoing business activities and refinancing existing debt.

The syndication was coordinated by Abu Dhabi Commercial Bank, Bank ABC (Arab Banking Corporation), Commercial Bank of Dubai, Emirates NBD Capital Limited and/or its affiliates, First Abu Dhabi Bank, Gulf International Bank, Kuwait Finance House and Qatar National Bank, Singapore Branch, acting as initial mandated lead arrangers and bookrunners.

Lenders joining in general syndication are AlRayan Bank, Commercial Bank International, National Bank of Fujairah, Natixis Corporate & Investment Banking DIFC Branch, State Bank of India DIFC Branch and United Arab Bank.

(Writing by Bindu Rai, editing by Daniel Luiz)

bindu.rai@lseg.com

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