United Arab Bank, the sixth-largest lender by market value on the Abu Dhabi bourse, signed a $250 million, two-year loan facility to be used to fund its general business.
The bank had originally aimed for a total size of $200 million but, having received subscriptions worth over twice this amount, it decided to expand the financing, it said in a statement late on Sunday.
UAB's deal was backed by a dozen lenders, with Abu Dhabi Commercial Bank, National Bank of Abu Dhabi, Arab Banking Corp, First Gulf Bank, National Bank of Umm al-Qaiwain and Union National Bankacting as bookrunners.
The other banks involved were Al Khaliji Commercial Bank , Bank of America-Merrill Lynch, Commercial Bank of Dubai, Commercial Bank of Qatar, Commerzbank and Standard Chartered.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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