Bank ABC launches US$ 125,000,000 Syndicated Term Loan Facility for United Arab Bank P.J.S.C.

19 August 2015 United Arab Bank P.J.S.C. ("United Arab Bank", "UAB" or the "Company") has mandated Arab Banking Corporation (B.S.C.) ("Bank ABC") as Initial Mandated Lead Arranger and Bookrunner to arrange on its behalf a USD 125 million syndicated term loan facility (the "Facility").  The Facility was signed on 5th August 2015 and will be used by United Arab Bank for general corporate purposes. T

  
19 August 2015
United Arab Bank P.J.S.C. ("United Arab Bank", "UAB" or the "Company") has mandated Arab Banking Corporation (B.S.C.) ("Bank ABC") as Initial Mandated Lead Arranger and Bookrunner to arrange on its behalf a USD 125 million syndicated term loan facility (the "Facility").  The Facility was signed on 5th August 2015 and will be used by United Arab Bank for general corporate purposes. The Facility carries a tenor of 3 years.

Syndication was launched today and is expected to close in September 2015.

Company Overview

United Arab Bank was established in 1975 and is a public company listed on Abu Dhabi Securities Exchange ("ADX") and is regulated by the Central Bank of the United Arab Emirates.

Based in Sharjah and operating with 31 branches throughout the UAE, the Bank offers its clients tailor-made financial services in both corporate and retail banking, and has mainly established itself as a leading solutions provider for a growing commercial and industrial base across the seven emirates. Through the provision of a comprehensive range of Corporate Banking, Retail Banking, Trade Finance, SME banking and Treasury services, United Arab Bank is the Bank of choice among major corporate clientele segments in the UAE.

The Commercial Bank (Q.S.C.), Qatar is the largest shareholder of UAB.  The Commercial Bank (Q.S.C.) made an acquisition of 40% interest in United Arab Bank in December 2007, in one of the few GCC cross border agreements and the first between banks from Qatar and the UAE. The other major shareholders of United Arab Bank include Sheikh Faisal Sultan Salem Al Qassimi (8.31%), GIBCA Limited Company (5.64%) and Jumaa Al Majed Abdullah Muhairi (5.31%).

As at 31 December 2014, United Arab Bank posted a 10% year-on-year increase to attain net profit of AED 605 million with total assets at AED 25.7 billion and Shareholders' equity at AED 2.9 billion. United Arab Bank is rated Baa1 (stable) by Moody's and BBB+ (stable) by Capital Intelligence.

© Press Release 2015


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