Bank Audi and Deutsche Bank, Mandated Lead Arrangers and Book Runners for a USD 400 Million Acquisition Financing Transaction

Beirut, 11 Apr 2011
Bank Audi sal and Deutsche Bank AG have announced that they successfully arranged a USD 400M acquisition financing transaction for the purchase of Saudi Oger’s shares in the Medgulf Insurance and Reinsurance Group by Lutfi El-Zein Group.

Bank Audi and Deutsche Bank were able to arrange a multi-tranche acquisition financing package including a USD 175 million syndicated term loan facility which attracted funded commitments from 14 banks: BankMed, Emirates Lebanon Bank, Banque Libano-Française, Credit Libanais, Banque Misr Liban, Fransabank, IBL Bank, BBAC, Lebanon & Gulf Bank, BLC Bank, Fransa Invest Bank, Société Générale de Banque au Liban, IBL Investment Bank, and CSC Bank, in addition to the mandated lead arrangers.

This landmark transaction marks the largest acquisition financing ever to be syndicated and funded in Lebanon, the largest pan-Middle East leveraged buy-out (LBO) since 2007, and the largest ever insurance group LBO in the MENA region.


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