ArabianBusiness.com - Middle East Business News
Monday, 09 November 2009 04:54 UAE time

YOUR DIRECTORY /

| Share |

First Gulf signs $323mn Sorbonne campus loan

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 04 January 2009
SYNDICATED LOAN: First Gulf Bank inks deal to finance the new campus of Paris Sorbonne University in Abu Dhabi. (Supplied)

The UAE’s First Gulf Bank (FGB) has signed a $323 million syndicated loan with Mubadala Development Company (Mubadala) to finance the new campus of Paris Sorbonne University in Abu Dhabi, FGB revealed on Sunday.

FGB agreed the deal for the twenty year loan along with Bank of Tokyo-Mitsubishi UFJ Ltd, BNP Paribas, Calyon Royal Bank of Scotland and Sumitomo Mitsui Banking Corporation.

FGB will act as mandated lead arranger, providing 25 percent of the total project value, the bank said in a statement.

Story continues below
advertisement

“Education is the cornerstone of any country’s future,” said André Sayegh, FGB’s chief executive officer.

“The development of our youth ensures the development of the UAE, which will ultimately be of benefit to all,” he said.

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

SHARE PRICE CHECK

 EMAIL ALERTS

  1. Education


Tell us your story

READER COMMENTS

  1. The tipping scandal 12
    08 Nov ' 09 at 16:32
    Steve you are 100% right. Managers and bosses have no right to use tip money for any other purpose than todistribute it to the staff...   More  »
  2. The party's just beginning 10
    08 Nov ' 09 at 18:31
    The recession may be coming to an end, but my guess is that there is no party in sight, just a depression! The typical line i hear in...   More  »
  3. Al Habtoor chief upbeat on Dubai future 08
    08 Nov ' 09 at 20:55
    I agree with Mr Khalafs comments, yesterday is gone,tomorrow nobody seen, what he is expecting beyound tomorow ,is his positive...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM