MANAMA — Arcapita Bank announced that having generated a total demand of more than $1.3 billion for its five-year syndicated Murabaha facility, the issue was increased in size from its initial target amount of $500 million and has closed at $1.1 billion.
The proceeds of the facility will be used to re-finance Arcapita's outstanding $210 million multi-currency Sukuk due 2010, as well as for general corporate purposes. 
The underwriters for the transaction were Barclays Capital, the investment banking division of Barclays Bank PLC, DBS Bank Ltd, European Islamic Investment Bank Plc, Standard Bank Plc, Standard Chartered Bank and WestLB AG.  WestLB acted as the facility agent and Dawnay, Day & Co., Limited is the commodity supplier.
Arcapita seeks alternative investments in the Middle East, the United States, Europe and Asia, and to date, has completed investments with a total transaction value of over $18.3 billion.