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Al Ahli Bank of Kuwait (ABK) has secured a 37-month $600 million Asian syndicated term loan facility, the largest by a Kuwaiti borrower in the Asian market.
The facility will support ABK’s group liquidity requirements and further fuel growth plans, the bank said in a statement on Tuesday.
Following high demand, the deal was upsized to $600 million from the initial launch target of $500 million. The Kuwait bank, acting through its ABK DIFC branch, which is regulated by Dubai Financial Services Authority, closed the facility with a total of 11 Asian lenders.
(Writing by Brinda Darasha; editing by Seban Scaria)
