UAE Pacific Control Systems raises USD272m in loans

(MENAFN) Dubai's Pacific Control Systems, the global provider of end-to-end managed application services and solutions, raised a sum of about USD272 million in 6-year loans as means of funding its expansion plans, Gulf Business News reported.

NBF Capital acted as an economic consultant for the transaction. NBF Capital is a prime component of the National Bank of Fujairah. Al Khalij Commercial Bank QSC also participated as a lead coordinator, according to the statements of the National Bank of Fujairah.

The consortium was a blend of normal and Islamic funding arrangements. Other participants in the loan are Al Khaliji France, Dubai Islamic Bank, United Arab Bank, National Bank of Oman, Ajman Bank and Sharjah Islamic Bank.

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