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AD Ports Group has signed an agreement with two UAE banks to refinance its syndicated loan of 9.175 billion UAE dirhams ($2.5 billion) to optimise financing costs.
The refinancing transaction with First Abu Dhabi Bank PJSC (FAB) and Emirates NBD Capital Limited (ENBD) also includes an additional accordion option of AED 3 billion, and has a tenor of three years, maturing in March 2029.
The Abu Dhabi-listed firm said the new facility extends the group’s flexibility to time its return to debt capital markets “to utilise bonds as the predominant long-term funding vehicle”.
The new loan replaces a 2.5-year maturity medium-term facility that was arranged in September 2024.
(Writing by Bindu Rai, editing by Seban Scaria)
