Other Lead Arrangers included Standard Chartered Bank, Commercial Bank of Qatar, National Bank of Abu Dhabi and Emirates NBD.
Backed by a strong balance sheet, United Arab Bank has obtained this facility for two years, extendable to three, at a margin of 150 Basis Points over LIBOR.
Funds will be used for general corporate purposes.
Speaking on this achievement, Paul Trowbridge, Chief Executive Officer of United Arab Bank, said, "I am delighted that this landmark deal has been completed, with the support of key relationship banks from the local and international markets. The transaction affirms UAB's fundamental strengths and reinforces our commitment to be a key player in the UAE market. I would also like to acknowledge the strategic guidance offered by our board of directors."
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United Arab Bank obtains landmark club loan facility
- United Arab Emirates: Saturday, December 29 - 2012 at 08:27
- PRESS RELEASE
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United Arab Bank has obtained a club loan facility of $125m in a landmark deal for the Bank. Commerzbank acted as the Co-ordination and Facility Agent as well as a Mandated Lead Arranger.
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Posted by Ishraq Al TalSaturday, December 29 - 2012 at 08:27 UAE local time (GMT+4)
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