Bank Muscat S.A.O.G.’s US$650 Million Unsecured Syndicated Loan Facility

Trowers & Hamlins has advised Bank Muscat S.A.O.G. in relation to a US$650 million unsecured syndicated loan facility.

The syndicated loan facility which has a three year tenor was oversubscribed, which enabled Bank Muscat to scale the facility up to US$650 million from an initial US$500 million.

The transaction received overwhelming support from the international banking community and was subscribed to by 20 lenders from the GCC, Europe, the United States, Asia and Africa.

Arab Banking Corporation (B.S.C.), Commerzbank Aktiengesellschaft, First Abu Dhabi Bank PJSC, Mashreqbank PSC, Mizuho Bank Ltd. and Wells Fargo Bank, N.A., London Branch acted as the joint lead coordinators on the transaction.

Trowers acted as Oman counsel to Bank Muscat and advised Bank Muscat on all aspects of the transaction.

The Trowers & Hamlins team was led by Elias Moubarak (Picture) and Salman Ahmed, with assistance from Leanda Arul and James Ioannou.

Involved fees earner: Salman Ahmed – Trowers & Hamlins; Leanda Arul – Trowers & Hamlins; Elias Moubarak – Trowers & Hamlins;

Law Firms: Trowers & Hamlins;

Clients: Bank Muscat;

Author: Michael Patrini.