The Royal Jordanian Airlines (RJ) has closed a US$275 million dual conventional and Islamic secured syndicated facility. The syndicate comprised of seven banks based in UAE, Jordan and Qatar; they are Mashreq Bank (Mashreq), Arab Bank, Al Khalij Commercial Bank, Dubai Islamic Bank, and The Commercial Bank/Qatar acting as Mandated Lead Arrangers, Arab Jordan Investment Bank as Lead Arranger and Bank al-Etihad as Arranger. Mashreq acted as the sole book-runner for the transaction. The facility carries a tenor of five years and the proceeds of the facility will be primarily utilized to consolidate and refinance RJ’s existing debt and further
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