Calyon has recently closed its fifth syndicated loan transaction with Zain (MTC). This Kuwaiti based Telecom operator is currently engaged in an aggressive international growth strategy in the Middle East and in Africa. Calyon in addition to being Initial Mandated Lead Arranger ( IMLA ) and Bookrunner of the transaction also played the role of documentation bank.

The last transaction closed in April 2008 was the refinancing of a one year USD 1.2 billion MurabahaA form of credit which enables customers to make a purchase without having to take out an interest bearing loan. The bank buys an item and then sells it on to the customer on a deferred basis.
( Islamic syndication) which had originally closed in December 2006.

The current financing was closed and initially financed by the seven Mandated Lead Arrangers in December 2007 and the transaction was then brought to General syndication in January 2008.

Since 2005, Calyon has syndicated for MTC and its key overseas subsidiaries more than USD 12 billion of debt playing the role of Initial Mandated Lead Arranger and Bookrunner in all the different transactions clearly demonstrating Calyon status as one of Zain core International banks.