National Bank of Abu Dhabi (NBAD), the largest UAE lender by assets, announced today the launch of a US$ 2.0 billion syndicated loan financing, which will be used to refinance existing bilateral facilities and provide new term funding.

The Facility is being self-arranged by NBAD, carries a 3-year bullet maturity, will pay an interest at the rate of Libor + 0.65% per annum and is expected to be closed and funded prior to year-end. The transaction is being syndicated to existing relationship lenders of NBAD, as well as a selected number of international banks.

Stephen Jordan, Group Treasurer of NBAD, said: 'As we approach a merger that will create a larger and stronger bank, NBAD believes this to be the appropriate time to launch a transaction which will help consolidate and define our preferred relationships for the new consolidated entity.'

National Bank of Abu Dhabi PJSC published this content on 30 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 October 2016 10:47:02 UTC.

Original documenthttps://www.nbad.com/en-ae/about-nbad/overview/newsroom/2016/30-10-2016.html

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