Dubai's ENOC gets USD1.5b loan to boost expansion| MENAFN.COM

Thursday, 18 August 2022 04:23 GMT

Dubai's ENOC gets USD1.5b loan to boost expansion

(MENAFN) Dubai-based Emirates National Oil Company (ENOC) has obtained a loan of about USD1.5 billion to further boost and fasten its expansion schemes in addition to securing long term finance, a corporate statement said, Arabian Business reported.

The loan spans over a period of nine years and comes from twenty one banks, namely from Emirates NBD, Commercial Bank of Dubai, Dubai Islamic Bank, Mashreq, Noor Bank, Abu Dhabi Islamic Bank and Standard Chartered.

Another fourteen domestic and regional banks joined the deal, which was finance in both United Arab Emirates dirhams and US dollars, the corporate statement added.

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