First Gulf Bank advances on $800m loan arrangement
- United Arab Emirates: Sunday, September 16 - 2012 at 16:14
The ADX General Index gained 0.80% Sunday to hit 2,629.44, the highest level since July 26 2011. Shares of First Gulf Bank or FGB added likewise 0.80%, ending at Dhs9.99. FGB has mandated The Bank of Tokyo-Mitsubishi UFJ Ltd., Citibank N.A.-London Branch, Commerzbank Aktiengesellschaft Deutsche Bank AG-London Branch, HSBC, Mizuho Corporate Bank Ltd., National Bank of Abu Dhabi PJSC and Standard Chartered Bank, as Initial Mandated Lead Arrangers and Bookrunners, to arrange on its behalf a new $800m three year, senior unsecured term loan facility. Commenting on the deal, Andre Sayegh, CEO of FGB said: "In line with its continuous efforts to efficiently manage its balance sheet, and maintain its consistently strong performance, FGB is arranging for this loan facility to support its growth and expansion in the local and targeted international markets. The facility adds diversification to the sources of funds and improves the funding maturity profile on FGB's balance sheet."
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