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Abu Dhabi's Senaat agrees $400mln revolving credit facility

An employee walks past a screen displaying the worldwide locations of the National Bank of Abu Dhabi, at the bank's headquarters in Abu Dhabi, April 3, 2013.

An employee walks past a screen displaying the worldwide locations of the National Bank of Abu Dhabi, at the bank's headquarters in Abu Dhabi, April 3, 2013.

REUTERS/Ben Job
DUBAI, March 20 (Reuters) - Abu Dhabi's Senaat, a state-owned investor in the emirate's industrial sector, has obtained a dual-tranche revolving credit facility of $400 million, it said on Monday.

The three and five-year loan will replace an existing $750 million revolving facility raised in 2013 and will back Senaat's general corporate requirements.

The new facility, provided by 11 financial institutions, is priced below the 2013 loan, Senaat said without providing further detail.

BNP Paribas and National Bank of Abu Dhabi are the joint loan coordinators.



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(Reporting by Hadeel Al Sayegh; Writing by Davide Barbuscia; Editing by David Goodman) ((Davide.Barbuscia@thomsonreuters.com;))





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