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Letters were sent to 10 banks on 18 October asking them to confirm their commitment as mandated lead arrangers (MLAs) on the 12-year commercial debt financing for Bahrain Petroleum Company (Bapco). The facility has been upsized to $1,000 million and will now cover both the low-sulphur diesel production (LSDP) unit and other elements of Bapco's investment programme (MEED 8:10:04).
Banks have been asked to confirm their undertakings by 8 November, with the final appointment of MLAs due the following day Eight banks have been invited to join the transaction with BNP Paribas and HSBC, which are acting as structuring agents. They are Arab Banking Corporation, Arab Petroleum & Investments Corporation (Apicorp), Bank of Bahrain & Kuwait, Dubai Islamic Bank (DIB), Gulf International Bank, Kuwait Finance House (KFH), Mizuho Financial Group and National Bank of Bahrain. All have offered both Islamic and ...