Kuwait's Zain has secured a $250 million four-year Islamic loan from a syndicate of three Gulf banks, the telecommunications operator said on Wednesday.
Zain, which operates in eight countries in the Middle East and Africa, ha
Indian textile major Alok Industries said its overseas unit has successfully closed a $150 million syndicated Murabaha facility with Gulf lenders Noor Islamic Bank and Warba Bank.
The facility marked the first such transaction tha
Loss-making telecom operator Zain Saudi has reached an agreement to extend the outstanding $2.3 billion on an Islamic loan facility by five years, the company said in a bourse statement on Monday.
Zain Saudi, 37-percent owned by K
Egyptian marine services firm Maridive and Oil Services has obtained a $150 million syndicated loan using an ijara (Islamic leasing) structure, the first of its kind in Egypt, said the legal advisor on the deal.
The Maridive loan
Abu Dhabi private equity firm Gulf Capital is close to signing a 1.32 billion dirhams ($359.38 million) Islamic loan for its company Gulf Marine Services (GMS), some of which will be paid out to investors as dividends.
Telecom operator Zain Saudi has extended the maturity of a $600 million facility until May 1, according to a statement on Saudi Arabia's bourse, the latest debt roll over by the loss-making firm.
This was due to be repaid on A
Zain Saudi extended the maturity of a SR9 billion ($2.4 billion) Islamic loan for another 21 days on Wednesday, the fifth time the loss-making telecom operator has deferred payment.
The company, an affiliate of Kuwait's Zain,
Dubai-based Emirates District Cooling (Emicool), a joint venture between Dubai Investments and Union Properties, signed a Dh793 million ($216 million) Islamic loan guaranteed by both parents, a statement said on Sunday.
Al Fanar Company, a Saudi-based electrical engineering and electrical products manufacturer, has signed a SR3 billion ($800 million) dual-tranche Islamic loan, it said in a statement on Tuesday.
It is the first time the firm has completed
National Industries Group Holding (NIG), a leading Kuwait-based company engaged in diversified industrial sectors, said it has appointed banks to raise more than KD100 million ($358 million) in a shariah-compliant syndicated loan.