[Yonhap Photo]
SEOUL -- Daewoo E&C, a Seoul-based builder involved in a lot of construction projects in the Middle East, has secured $200 million in a funding deal led by Emirates NBD, the second largest lender in the United Arab Emirates.
The builder said Wednesday that the syndicated loan would be used to facilitate its business in the Middle East. Emirates NBD Capital served as the lead arranger for the deal that included eight other regional and international banks.
Initially, the transaction was set at $100 million, but it was upsized to $200 million due to oversubscription.
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