The UAE’s First Gulf Bank (FGB) said on Monday it had secured a $825 million five-year syndicated club loan arranged by international banks to finance projects in the energy, power and infrastructure sectors.
The loan was arranged by 11 international banks including ABN Amro, Calyon, Commerzbank, Citibank, DBS, DZ Bank, ING and Mashreqbank, FGB said in a statement.
“The five-year club loan facility falls in line with our business strategy to participate in public-sector sponsored projects, both locally and regionally,” said FGB chief executive Andre Sayegh.
Bank of Tokyo-Mitsubishi UFJ is acting as the agent bank in the deal, whilst Calyon is the documentation bank. (Reuters)
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