Posted on April 24, 2011

Al Khalij Commercial Bank (al khaliji) Q.S.C. acted as a Mandated Lead Arranger on the recently signed USD 600 million equivalent term loan facility for Al-Etisalat Al-Mutanakilah Al-Saudia Company (Zain KSA). The facility proceeds will be used for Zain’s capital projects and refinance of existing obligations.

Mohammed Abdelkhalek, Head of Corporate & Institutional Banking at al khaliji said, “we are delighted to be able to support this transaction for Zain as a Mandated Lead Arranger”. Abdelkhalek continued, “As a wholesale led bank based in Qatar, al khaliji is committed to deepening its already strong relationships with existing customers and to fostering new relationships with Corporate and Institutional customers that fit our defined target market within Qatar and the wider GCC”.

Zain is recognized as one of the leading telecommunication operators in the GCC and wider Middle East region with a successful and proven track record. al khaliji’s support and participation for this high profile and highly successful transaction is in line with its wholesale led strategy and is part of the successful and ambitious growth plans.

The role as a Mandated Lead Arranger on this USD 600mn transaction further strengthens the reputation of al khaliji Corporate & Institutional Banking Division after an outstanding year during which they participated in the US$1.1 billion (QR 4 billion) financing deal for Abu Dhabi’s Emirates Steel Industries and as a Mandated Lead Arranger on the amortizing term facility of AED 1.14bn for Majid Al Futtaim Group.

al khaliji remains committed to advising and arranging financial support for its customers within Qatar and the GCC as they grow their business. To contact al khaliji Corporate & Institutional Division, telephone +974 4494 0000, email corporate@alkhaliji.com or visit Bank Audi www.alkhaliji.com

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