Emirates NBD has closed $2.25 billion in long-term financing in one of the largest syndicated borrowings in the GCC, completing the transaction despite the ongoing regional conflict.

The financing comprises a $1.75 billion five-year sustainability-linked syndicated term loan (SLL) and a $500 million five-year Club Commodity Murabaha term facility.

Launched initially at $1 billion, the SLL was more than twice oversubscribed, allowing the bank to raise the size to $1.75 billion, a statement said without disclosing the pricing.

The $500 million Murabaha facility was arranged through Emirates Islamic.

The combined transaction attracted 15 financial institutions from the Americas, Europe and Asia.

Bank of America, BNP Paribas, DBS Bank Limited and Emirates NBD Capital Limited acted as coordinators, bookrunners and sustainability coordinators for the Emirates NBD transaction. Emirates NBD Capital Limited acted as sole coordinator for the Emirates Islamic facility.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com