Industrial and Commercial Bank of China (ICBC) contributes to $800 million syndicated loan to Burgan Bank K.P.S.C.

Project narrative

In June 2023, Burgan Bank signed a $800 million unsecured term loan facility with a consortium of domestic and global lenders. The syndication, originally launched at $300 million in February 2023, was oversubscribed threefold, with commitments totaling $920 million. The facility had an interest rate of 120bps plus SOFR. Mizuho Bank acted as sole global coordinator, active bookrunner, BMLA and facility agent for this transaction. The Industrial and Commercial Bank of China (ICBC) and Mashreq Bank served as active bookrunners. The mandated lead arrangers included Agricultural Bank of China (captured via Record ID#101690), Bank of Baroda (India), Commercial Bank of Dubai, Commerzbank, Standard Chartered and State Bank of India.