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US$185 Million Syndicated 2- Year Term Financing Facilities For United Arab Bank |
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United Arab Bank P.J.S.C. (UAB), is pleased to announce the successful conclusion of its US$ 185,000,000 Syndicated Term Financing Facilities signed on 30 July 2018. The 2-year bullet term financing facilities comprise a Conventional facility and a Commodity Murabaha financing facility, each carrying a margin of 1.50 % p.a. over Libor. Both facilities have a 1-year extension option at the end of year 2 at the discretion of each lender. Proceeds of the facility will be used for general corporate purposes and the refinancing of an existing syndicated facility. The facilities were initially launched at US$ 150 Million and due to an oversubscription the facility closed at US$ 185 Million. The transaction was arranged by Bank ABC, Commerzbank Aktiengesellschaft, Filiale Luxemburg (“Commerzbank”) and Emirates NBD Capital Limited as Mandated Lead Arrangers and Bookrunners. Further, Emirates NBD Capital Limited acted as Coordinating Bank and Documentation Agent and Emirates NBD Bank PJSC as the Global Facility Agent. |
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