BMI 08 July 2007...  BMI recently announced that its maiden Syndicated Term Loan Facility for US$ 75 million had received tremendous support from the global financial community and was heading for an oversubscription. The 3 year facility which was mandated to Bookrunners, BankMuscat S.A.O.G., Commerzbank Aktiengesellschaft and Mizuho Corporate Bank Ltd, has five other leading banks in MLA positions; Arab Banking Corporation, BayernLB, Gulf International B.S.C., Lloyds TSB Bank plc and National Bank of Dubai PJSC

The syndication, which was launched on the 5th of June 2007, has received commitments from investors across the globe spanning the Far East, Australia, Europe and Middle East. The Bookrunner banks expect further subscription before it closes.

Commenting on the success of the syndication, Abbas Al Derazi, General Manager of BMI said:

“We thank the Bookrunner and Mandated Lead Arranger banks for facilitating this successful transaction as well as the international banking community for their strong support which has come from lenders in diverse geographical markets. Such excellent support could not have come at a more opportune time than now when we are in the process of stepping up our domestic growth strategy.”

BMI is currently rated as “Investment Grade” by leading rating agencies attributing “profitable profile, diversified revenue streams and strong support from shareholders who comprise of some of the strongest and highly respected financial institutions from across the GCC region including BankMuscat (Oman), Royal Court Affairs (Oman), Overseas Investments (Bahrain), Istithmar (UAE) and Global Investment House (Kuwait).”