Commercial Bank of Dubai (CBD) has successfully arranged, structured, and concluded a 530- million UAE dirham ($144 million) Syndicated Financing for Gulf Data Hub (GDH), the largest privately-owned data centre developer in the UAE.

The facility will be used by GDH to fund its 12-megawatt Data Centre project in ICAD, Abu Dhabi, according to a CBD press statement.

Commercial Bank of Dubai acted as the Initial Mandated Lead Arranger and Bookrunner on the facility and was joined by The National Bank of Ras Al Khaimah, Emirates Development Bank and Gulf International Bank, the statement said.

(Writing by Senthil Palanisamy; Editing by Anoop Menon)

(anoop.menon@lseg.com)