Investcorp closes Dh1.83b loan facility

Dubai: Bahrain-based global investment group Investcorp, the global investment group, yesterday said it has successfully closed a $500 million (Dh1.83 billion) five-year syndicated revolving loan facility.

The syndication comprised 30 banks across North America, Europe, Asia, Middle East and North Africa.

The facility was initially launched at $300 million (Dh1.10 billion), but strong interest from new and existing lenders led to significant commitments of over $850 million (Dh2.93 billion), resulting in a total facility of $500 million and no general syndication.

JP Morgan Chase and Dresdner Kleinwort were joint bookrunners.