Mashreqbank was also appointed as the Facility and Security Agent for the transaction. The borrower, Cebarco WCT WLL, is a legal entity established between Cebarco SPC - Bahrain and WCT Engineering - Malaysia, both valued clients of the three banks in their respective branches.
The Abu Dhabi F1 circuit is developed by Aldar Properties, the leading developer in Abu Dhabi, to welcome the Abu Dhabi Formula 1 Grand Prix from 2009. The circuit is estimated to be one of the longest and most demanding tracks in the world.
By joining their efforts, the three banks have successfully met the requirements of Cebarco WCT on this iconic Landmark project.
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Three top banks co-arrange contractor financing for Dhs750m for Abu Dhabi Formula 1 circuit
- United Arab Emirates: Saturday, October 27 - 2007 at 10:26
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BNP Paribas, Mashreq Bank and HSBC banks successfully co-arranged a contractor financing of Dhs750m for the construction of the Abu Dhabi F1 circuit.
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Posted by Medilyn Manibo, Assistant News EditorSaturday, October 27 - 2007 at 10:26 UAE local time (GMT+4)
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