Dubai's CBD signs deal for $450m loan

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Commercial Bank of Dubai

Commercial Bank of Dubai

Commercial Bank of Dubai said on Thursday it signed to obtain a $450 million, three-year loan which would be used for general business purposes.

The new loan has an interest rate of 1.25 percent above the London interbank offered rate (Libor), the filing to the Dubai bourse said.

It replaces a facility of the same amount which was raised in 2011 but was repaid in October this year.

Nine banks contributed to the facility, the statement added: Arab Banking Corp, Bank of New YorkMellon, Citibank, Commerzbank, ING, JP Morgan Chase, National Bank of Abu Dhabi, Natixis andStandard Chartered.

Related:

Market Performance

Commercial Bank of Dubai
6.3
0.0 0.0 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Q&A with Noor Bank

Q&A with Noor Bank

Kazim Ali, head of corporate banking at Noor Bank, discusses...

Saudi bank's $6bn IPO ignites religious controversy

Saudi bank's $6bn IPO ignites religious controversy

Plans by National Commercial Bank have prompted some clerics...

Dubai flexes legal muscles as financial court system grows

Dubai flexes legal muscles as financial court system grows

Landmark ruling by the court system in Dubai's financial free...

Most Popular
Most Discussed