Dubai-UAE: 20 July, 2015 - Noor Bank PJSC, a leading Shari'a compliant bank in the UAE, announced the successful closure of a USD 175 million syndicated structured finance facility for the Abu Dhabi based Emirates Motor Company, (EMC), the authorised distributor for Mercedes-Benz in Abu Dhabi and Al Ain, and a subsidiary of Al Fahim Group.

Noor Bank acted as the sole Initial Mandated Lead Arranger and Bookrunner for the dual tranche structured finance facility. Al Khalij Commercial Bank (Al Khaliji) Q.S.C., ABC Islamic Bank (E.C.) and National Bank of Oman also participated in the facility. 

Hussain Al Qemzi, CEO of Noor Bank, said: "We are very pleased to have lead managed this debut syndication for Al Fahim Group. Having successfully closed over US$ 15 billion worth of syndications and capital market mandates in the past 12 months, this deal will go a long way to strengthen our leadership position in the Islamic capital markets space. We thank Emirates Motor Company for the trust and confidence shown in the Noor Bank team."

Mr. Ahmed A J Al Fahim, the Chairman of Al Fahim Group, said, "We appreciate the professional and competent manner in which this transaction was handled by Noor Bank and achieved all the financing objectives of the Company including pricing, structure and the distribution diversity. We are very pleased at the response from our bankers, who have demonstrated their strong support for our business growth plans."

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About Noor Bank
Noor Bank began operations, in Dubai, in 2008, as Noor Islamic Bank. It is a full service bank delivering the broadest range of products for its customers, with an emphasis on unique and personalised service. Noor Bank is governed by a Fatwa and Shari'a Supervisory Board, comprising leading Islamic scholars with extensive experience and expertise in legal, financial and banking-related matters. Noor Bank is rated "A-" IDR with a stable outlook by Fitch Ratings. The corporate shareholders of the Bank are The Office of the Crown Prince of Dubai (25.73%), the Investment Corporation of Dubai (22.71%) and the Emirates Investment Authority (4.7%). The remaining shares are beneficially held by individuals who each own less than 5% of Noor Bank.  For further details, please visit: www.noorbank.com or call 800 6667.

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