QATAR: A 3·65bn riyal syndicated financing package for the construction of the Doha metro Gold Line has been finalised, Barwa Bank announced last month. The bank said this was the ‘largest infrastructure syndication in Qatar to date.’
Last year project promoter Qatar Rail awarded the ALYSJ joint venture a €3·2bn design and build contract covering the east-west line linking Airport City North with Al Rayyan South. The underground line is scheduled to be completed by 2019 as part of Phase 1 of the planned four-line network.
Barwar was the sole book runner to arrange financing for ALYSJ. The mandated lead arrangers are Barwa Bank, First Gulf Bank of Abu Dhabi and Qatar International Islamic Bank. Law firm Simmons & Simmons advised the banks, and Exarchou & Rosenberg International Law represented ALYSJ.
ALYSJ comprises Aktor SA (Greece), Larsen & Toubro (India), Yapi Merkezi (Turkey), STFA Group (Turkey) and Al Jaber Engineering (Qatar).
‘The Gold Line Metro syndicated financing is another credential that supports Barwa Bank’s status as a leading franchise in Islamic capital financing products and we thank ALYSJ for the trust they have placed in us’, said Khalid Mahdi Al-Ahbabi, Executive General Manager & Chief Business Officer of Barwa Bank.