STANDARD CHARTERED ARRANGES US$170
MILLION SYNDICATED LOAN FOR LANDMARK
Release Date: 11 April 2007
Standard Chartered announces the signing of an inaugural USD $170 million
Syndicated Loan Facility for RNA Resources Group Ltd. RNA Resources Group Ltd is
part of Landmark Retail Limited.
The international syndicate comprises of eleven local and international banks. Namely,
Abu Dhabi Commercial Bank; Bank of Baroda, Global Syndication Centre, London;
Barclays Bank PLC Dubai, UAE; Lloyds TSB PLC., Dubai; State Bank of India,
Bahrain; Standard Chartered and Union National Bank as Mandated Lead Arrangers;
First Gulf Bank PJSC as Lead Arranger; Habib Bank Ltd; Hua Nan Commercial Bank
Ltd., Offshore Banking Branch and The Shanghai Commercial and Savings Bank Ltd
David Koay, Head of Client Relationships, Standard Chartered UAE extended sincere
congratulations to the company and also thanked the syndicate of banks for their
contribution in making this a highly successful syndication.
“The successful completion of this transaction is clearly an expression of the strong
confidence in the management of the company and their future growth ambitions. It
also demonstrates the banking community‘s strong belief in potential for sustained
economic growth in the GCC,” said Koay.
“With increased tourism traffic and massive retail and commercial development taking
shape, growth prospects for the retailing industry, in particular, are on the rise.
Consequently, Standard Chartered as the original mandated lead arrangers, are really
proud of the role we have played in making this deal happen.”
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About RNA Resources Group
RNA Resources Group Ltd is part of the Landmark Retail Limited which was founded
by Mr. Mukesh “Micky” Wadhumal Jagtiani with the launch of a single store in Bahrain
in 1973. Today, the Landmark Retail Limited has grown to be a major retailer,
operating 485 plus stores throughout the Gulf and Levant. The brand portfolio of
Landmark Retail Limited includes Babyshop, Shoe Mart, Splash, Home Centre and
Lifestyle. The company sells fashion apparel, baby wear and accessories, footwear,
personal care products, home wear, furnishing and furniture & currently employs more
than 13,500 people.
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