Seven UAE banks participate in financing Pakistan’s $500mln syndicated facility

The global syndicated facility attracted over 40% oversubscription

  
Image used for illustrative purpose. A customer makes a transaction at a bank in Dubai.

Image used for illustrative purpose. A customer makes a transaction at a bank in Dubai.

REUTERS/Mohammed Salem

UAE – Mubasher: Pakistan has secured $500 million syndicated term loan and Murabaha financing facility from 12 banks, including Emirati banks.

The global syndicated facility attracted over 40% oversubscription, backed by strong demand from local, regional, and international investors, according to a press release.

Emirates NBD Capital Limited was the transaction’s global coordinator, while Commercial Bank of Dubai (CBD), Emirates NBD, Noor Bank, Allied Bank, Dubai Islamic Bank, First Abu Dhabi Bank (FAB), Mashreq Bank, and Sharjah Islamic Bank acted as the initial mandated lead arrangers and bookrunners.

Meanwhile, Samba Financial Group acted as a lead arranger on the facility, and Bank of Jordan, Habib Bank Limited, and Union De Banques Arabes Et Francaises acted as Arrangers.

Source: Mubasher

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