Advanced Energy System $210 million islamic finance syndicated loan

Overview:

• Advanced Energy System (ADES), an Egyptian oil field services company, was engaged in a conventional Islamic finance syndication transaction of a total value of $190 million and a further $20 million facility from European Bank for Reconstruction and Development and Arab International Bank.
• The purpose of the loan was to refinance ADES' existing indebtedness and finance the procurement of a new rig. 

Rani Mehta- Journalist