Bank Audi sal – Audi Saradar Group announced that it has successfully closed a landmark syndicated USD 380 million multi-currency bridge facility for the Syrian Cement Company, a Lafarge subsidiary. The syndicated facility will be used to finance the setup of a “Greenfield Cement Plant” near Aleppo, with a production capacity of 2.9 million tons per annum (expected to start production in 2010).
Bank Audi, Lead Arranger of the deal, has managed to attract 13 international and regional financial institutions from Denmark, Egypt, France, Jordan, Syria and Lebanon, namely: the Commercial International Bank - Egypt, Danske Bank - Denmark, Byblos Bank - Lebanon, Banque BEMO - Lebanon, the Housing Bank for Trading & Finance - Jordan, ABC International Bank - Egypt, BNP Paribas - Egypt, the International Bank for Trade & Finance - Syria, IBL Bank - Lebanon, Ahli United Bank - Egypt, Syria Gulf Bank - Syria, Byblos Bank Syria and Banque Bemo Saudi Fransi - Syria, as well as two banks from within Audi Saradar Group: Bank Audi Syria and Bank Audi Saradar France.
Commenting on the subject, Ramzi Saliba, General Manager at Bank Audi, said: “This transaction constitutes one of the largest private financing deals for industrial projects in the Levant region.” Saliba seized the opportunity to add that “the deal is a clear indicator of Bank Audi’s regional role which is all the more reflected by the diversity of the participating banks.”
As for Bassel Hamwi, Deputy Chairman and General Manager of Bank Audi Syria, he proudly underlined that “the transaction represents the largest financing of a private investment in Syria” and that “it clearly demonstrates the ability of the Syrian private sector to play a leading role in the growth of the country’s economy.”
NOTES TO EDITORS
Lafarge is the world leader in building materials, with top-ranking positions in all of its businesses: Cement, Aggregates & Concrete, and Gypsum. With 90,000 employees in 76 countries, Lafarge posted sales of Euros 17.6 billion and net income of Euros 1.9 billion in 2007.
Lafarge is the only company in the construction materials sector to be listed in the 2008 “100 Global Most Sustainable Corporations in the World”. Lafarge has been committed to sustainable development for many years, pursuing a strategy that combines industrial know-how with performance, value creation, respect for employees and local cultures, environmental protection and the conservation of natural resources and energy. To make advances in building materials, Lafarge places the customer at the heart of its concerns. It offers the construction industry and the general public innovative solutions bringing greater safety, comfort and quality to their everyday surroundings.
Additional information is available on the web site www.lafarge.com
Bank Audi sal – Audi Saradar Group is the top bank in Lebanon and ranks among the 25 largest banking groups in the Middle East. The Bank is present in Lebanon, Switzerland, France, Jordan, Syria, Egypt, Sudan, Saudi Arabia, Qatar and the United Arab Emirates (Abu Dhabi representative office).
Additional information is available on the web site www.banqueaudi.com |
