Capital Bank of Jordan signs USD 115 Million 1-year Debut Senior Unsecured Syndicated Term Loan Facility
Capital Bank of Jordan . (“CBJ” or the “Borrower”) is pleased to announce the successful signing of a USD 115 Million Senior Unsecured Syndicated Term Loan Facility (“Facility”) signed on 15th August 2022.
Mashreq bank psc acted as the sole Coordinator, Facility Agent, Mandated Lead Arranger and Bookrunner (the “MLAB”) for the Facility. Abu Dhabi Commercial Bank PJSC and Banque du Caire acted as Mandated Lead Arrangers (MLAs), Bank of Jordan Company – Wholesale Banking Branch – Bahrain, and United Arab Bank PJSC acted as Lead Arrangers (“LA”) and Bank Muscat S.A.O.G., Doha Bank Q.P.S.C., Habib Bank LTD. (BUR DUBAI BR), HBL Belgium, The National Bank of Ras Al-Khaimah (P.S.C.), Tunis International Bank, and United Bank Limited acted as arrangers. Clifford Chance LLP was the lenders legal counsel.
The Facility will be used for meeting general corporate funding requirements of CBJ.
The Facility met with resounding success with an over-subscribed book size. Considering it was CBJ’s first ever syndicated borrowing, participation from 12 banks across the region, across 2 continents helped in advancing CBJ’s profile regionally.
CBJ’s Group Financial Institutions Director, Jamal AlQudah said that “CBJ is delighted with the outcome of this transaction and is thankful for the support of a diverse group of international and regional banks, some of which have been our reliable commercial funding partners for several years and some being on-boarded as new relationship banks that will further enhance CBJ’s funding sources. The wide subscription achieved in this facility demonstrated the faith reposed by our partners in CBJ in particular and Jordan as a growth market.”
Joel Van Dusen, Group Head of Corporate & Investment Banking at, Mashreq commented: “The successful completion of this strategic transaction reinforces Mashreq’s position as a leading bookrunner for regional credits. We are proud to be associated with this flagship deal and trusted by CBJ to deliver a landmark capital raising in the regional market. We would like to extend our gratitude to all the partner banks for taking part in this deal, which strengthens the credit standing of CBJ and establishes a borrowing benchmark for future capital raising for different entities in Jordan.
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