Business | Banking
Guardian RAK signs loan deal with Zoujaj and Zamil
Guardian Zoujaj International Float Glass (Guardian RAK) signed a joint venture between Guardian Industries, The National Company for Glass Investments (Zoujaj) of Saudi Arabia and Zamil Group also of Saudi Arabia, has signed a seven-year $100 million loan facility agreement.
- Staff Report
- Published: 00:00 December 18, 2006
Dubai: Guardian Zoujaj International Float Glass (Guardian RAK) signed a joint venture between Guardian Industries, The National Company for Glass Investments (Zoujaj) of Saudi Arabia and Zamil Group also of Saudi Arabia, has signed a seven-year $100 million loan facility agreement.
While BNP Paribas, Mashreqbank and Samba Financial Group are the MLAs (Mandated Lead Arrangers), Bank of Baroda joins as a Lead Arranger. BNP was the book-runner while Mashreqbank has assumed the role of a Facility Agent and Security Agent.
Mashreq's multi-faceted association with this prestigious financing underscores its deep knowledge of the UAE financial markets as well as it's structuring and transaction management capabilities.
Guardian RAK will use the loan to part finance its upcoming 700 tonnes per day float glass manufacturing unit in Ras Al Khaimah. The facility is divided into a term loan component of $75 million with the remaining $25 million structured as a revolving credit line.
Guardian industries, is a privately owned multinational corporation engaged in flat glass manufacturing and fabrication, automotive products and building products.
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