Monday 20 October 2014
 
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Financing

Orpics appoints Trowers as counsel for $2.8bn loan deal

Oman Oil Refineries and Petroleum Industries Company (Orpic) has appointed Trowers & Hamlins as local counsel to advise a consortium of 21 international and local financial institutions on all legal aspects of the financing of a $2.8 billion

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Safi Energy gets $2.6bn loan for Morocco plant

Safi Energy Company has secured $2.6 billion in financing to build a 1,386-MW coal-fired power plant in southern Morocco, state news agency MAP reported. Morocco wants to meet domestic power consumption using thermal po

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Aafaq-Meancorp to provide investors financing solutions

Aafaq – Islamic Finance Company, a UAE-based shari’a-compliant financial services group and Menacorp, a leading investment bank, have entered into a strategic partnership to provide investors on the DFM, ADX and Nasdaq Dubai Islamic

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Tamkeen-BMI Bank extend key scheme

Bahrain's labour fund Tamkeen and BMI Bank, a subsidiary of Al Salam Bank Bahrain, have announced an extension of their partnership providing sharia-compliant financing to local enterprises.   This marks the

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Saudi's Ma'aden inks $5bn financing deal

Saudi Arabian Mining Co (Ma'aden) has signed a $5 billion financing deal with commercial banks and a state-owned investment fund to back its $7.5 billion phosphate production project in the kingdom, it said in a statement on Tuesday.

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IDB approves $447m financing for new projects

The Islamic Development Bank has approved $447.6 million towards financing several new development projects.   The fund will be used for financing projects in a number of member countries as well as three grants

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Iran to resolve HSBC freeze on trade financing

Iran is lobbying to get HSBC to process humanitarian trade transactions that Europe's biggest bank has frozen because of concerns about potential breaches of international sanctions, sources familiar with the trades told Reuters.

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Saudi shipper plans long-term financing for Vela debt

National Shipping Company of Saudi Arabia (Bahri) plans to arrange long-term sharia-compliant financing in 2015 to replace a bridge loan backing its $1.3 billion acquisition of Saudi Aramco's marine unit, it said on Sunday. Th

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NBK, Al Khorayef in $56.8m financing deal

National Bank of Kuwait (NBK) and Saudi Arabia-based Al Khorayef Group have signed a financing deal to arrange $56.8 million syndicated facilities with a tenor of five and a half years.   The facilities will be u

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Bahrain Development Bank to boost financing

Bahrain Development Bank (BDB), the kingdom's leading development financial institution, plans to increase financing volume to more than BD60 million ($159 million) this year along with the launch of new facilities, said a report.

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