UAE- FGB successfully raises 1 billion in three year loan fa...| MENAFN.COM

Wednesday, 10 August 2022 08:03 GMT

UAE- FGB successfully raises 1 billion in three year loan facility

(MENAFN- Emirates News Agency (WAM))

ABU DHABI 13th September 2015 (WAM) -- FGB has completed its $1 billion three-year loan facility on September 7th 2015 which has achieved an oversubscription of around 33% from its initial launch amount of US$ 750 million.

FGB will be paying 70 bps per annum above USD LIBOR and has a bullet repayment at the end of the three year tenor. The facility will be used for general financing purposes Commenting on the deal Christopher Wilmot Head of FGB's Treasury and Global Markets Group said "The transaction is a continuation of our strategy to lengthen our liability profile in line with the CB UAE's recently published liquidity regulations. Given the recent performance of emerging markets the pricing and healthy level of oversubscription is a testament to FGB's continued attractiveness as a borrower."

Bank of America Merrill Lynch International Limited The Bank of Tokyo-Mitsubishi UFJ Ltd Barclays Bank PLC BNP Paribas Citigroup Commerzbank Aktiengesellschaft Deutsche Bank AG London Branch HSBC Bank Middle East Limited ING Commercial Banking Mizuho Bank Ltd. Natixis Sumitomo Mitsui Banking CorporationDubai Branch UniCredit Bank AG and Wells Fargo Bank N.A. London Branch were mandated lead arrangers and bookrunners for the transaction The bank is rated A2 A+ by Moody's and Fitch respectively.


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