HSBC Amanah records transactions worth $1.45 billion in Q1

DUBAI — HSBC Amanah, the global Islamic financial services division of the HSBC Group has recently concluded several transactions that contributed $1.45 billion in the GCC region. HSBC Amanah acted as Mandated Lead Arranger on the $850 million 5-year revolving Murabaha for Kuwait Finance House (A-/A2) and as Financial Adviser to Saudi Aramco and Sumitomo Chemical on the $600 million Islamic facility for the Rabigh Refinery and Petrochemical Project.

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Published: Mon 1 May 2006, 9:58 AM

Last updated: Sat 4 Apr 2015, 3:41 PM

The Kuwait Finance House deal was launched at $500 million, oversubscribed to $942 million and closed at $850 million, of which more than three quarters was placed outside the Middle East. The deal was very competitively priced, reflecting the strong position of both Kuwait Finance House and the Mandated Lead Arrangers.

HSBC Amanah also acted as Islamic Financial Adviser to Saudi Aramco and Sumitomo Chemical on the $600 million Islamic facility for the Rabigh Refinery and Petrochemical Project. The Islamic facility is the largest in a project financing to date and is based upon the procurement of a number of core project assets and an Islamic lease of those assets to the project company.


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