Guardian Zoujaj International Float Glass Co. LLC Raises US$100 Million Syndicated Loan Facility

Albawaba.com reported that Guardian Zoujaj International Float Glass Co. LLC (Guardian RAK) signed a joint venture between Guardian Industries Corp., The National Company for Glass Investments (Zoujaj) of Saudi Arabia and Zamil Group also of Saudi Arabia, has signed a seven-year US$ 100 million loan facility agreement.

While BNP Paribas, Mashreqbank and SAMBA Financial Group are the MLAs, Bank of Baroda joins as a Lead Arranger. BNP was the book-runner while Mashreqbank has assumed the role of a Facility Agent and Security Agent. Mashreq’s multi-faceted association with this prestigious financing underscores its deep knowledge of the UAE financial markets as well as it’s structuring and transaction management capabilities.

Guardian RAK will use the loan to part finance its upcoming 700 tons per day float glass manufacturing unit in Ras Al Khaimah. The facility is divided into a term loan component of US$75 million with the remaining US$25 million structured as a revolving credit line. Guardian industries Corp., is a privately owned multinational corporation engaged in flat glass manufacturing and fabrication, automotive products and building products.

The company is a leading manufacturer of float glass and fabricated glass products for the construction industry and is one of the largest flat glass producers in the world with 24 manufacturing facilities world wide. The National Company for Glass Industries (“Zoujaj”) is a Saudi joint stock company producing returnable and non-returnable glass containers of various types and sizes for soft drinks, juices and the food industry.

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