nbad closes syndication of 2bn loan
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

NBAD closes syndication of $2bn loan

Arab Today, arab today

Arab Today, arab today NBAD closes syndication of $2bn loan

NBAD
Abu dhabi - WAM

The National Bank of Abu Dhabi, NBAD, has successfully closed the syndication of its US$2 billion club loan facility with a large oversubscription.

Commitments of nearly $3 billion were received in syndication from 14 major international banks across Europe, Asia and the United States. However, due to its excellent liquidity position, NBAD will not be increasing the facility size and banks’ commitments have been scaled back, the bank said in a statement.

"NBAD is very pleased with the success of this transaction, which again serves to highlight the confidence in the creation of a larger, stronger bank through the merger of FGB and NBAD," said Stephen Jordan, Group Treasurer of NBAD.

Joining the Facility as mandated lead arrangers are Bank of America Merrill Lynch, Mitsubishi UFJ Financial Group, Inc. (MUFG), Barclays Bank Plc, Citigroup, Credit Agricole Corporate and Investment Bank, DIFC, The Hong Kong and Shanghai Banking Corporation Limited, Mizuho Bank Ltd, Natixis (DIFC Branch), Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, Societe Generale, UniCredit Bank AG, Wells Fargo Bank, N.A., London Branch, while Bank of China Limited and Macau Branch/Bank of China (Hong Kong) Limited are lead managers.

Mitsubishi UFJ Financial Group, Inc. has been appointed as facility agent for the loan.

 

 

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nbad closes syndication of 2bn loan nbad closes syndication of 2bn loan

 



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