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Dubai-based logistics operator Aramex has replaced its existing US dollar- and pound-denominated loans with a single dirham-denominated facility of AED 815 million ($222 million), as part of efforts to optimise its financial position and support sustainable growth.
The new facility is structured as a sustainability-linked instrument, with pricing tied to Aramex’s sustainability performance.
The refinancing was arranged through a syndicate of international and local banks, although the company did not disclose pricing details.
By replacing multiple foreign-currency facilities with a single UAE-based loan, the transaction simplifies Aramex’s debt structure and aligns its financing base with its core operations in the region. The move is also expected to generate cost efficiencies over the medium to long term, the Dubai DFM-listed company said.
(Writing by Brinda Darasha; editing by Seban Scaria)
