Daewoo Engineering signs $200 million syndicated loan

DAEWOO ENGINEERING & CONSTRUCTION

23/03/2021 10:52

DUBAI, March 23 (Reuters) - Daewoo Engineering &
Construction Co  047040.KS  has signed a $200 million
dual-tranche loan, the bank coordinating the deal said in a
statement on Tuesday.
    The deal was initially launched at $115 million but was
upsized after "significant oversubscription", sole coordinator
Emirates NBD  ENBD.DU  said without specifying.
    Ahli United Bank  BKME.KW  and Warba Bank  WARB.KW  joined
ENBD as bookrunners for the three-year amortising facilities
which comprise a conventional and an Islamic tranche.
    "While Daewoo has regularly tapped the syndicated loan
markets in the past, this transaction represents another
important milestone in the expansion of its growing investor
base through a longer dated issuance and helped Daewoo to
successfully tighten the pricing and to tap Islamic liquidity
available in the region," ENBD said.
    Other banks on the deal were Kuwait International Bank
 KIBK.KW , Bank SinoPac, State Bank of India  SBI.NS ,
DenizBank, First Commercial Bank, Hua Nan Commercial Bank,
Taiwan Business Bank  2834.TW  and Finantia UK.

 (Reporting by Yousef Saba, editing by Louise Heavens)
 ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))