Emirates Islamic Bank and ABC Islamic Bank close US$70 million syndicated Murabaha financing facility for Esfahan Steel Company From: Al Bawaba | Date: March 13, 2006 | Copyright 2006 Al Bawaba. Provided by ProQuest LLC.Copyright information

Emirates Islamic Bank and ABC Islamic Bank (the "Arrangers") have successfully closed syndication for a 3-year amortizing syndicated Murabaha financing facility with a total of $ 70 million for Esfahan Steel Company, Islamic Republic of Iran ("ESCO").

The transaction has received strong support from the general syndication market and the Facility has been over-subscribed. The participants in the Facility include many of the leading regional Islamic and conventional institutions.

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