|25 June, 2019

Syndicated 2-year term financing facilities for United Arab Bank

The facility was initially launched at $150million and closed at $195million.

United Arab Bank P.J.S.C. (UAB), is pleased to announce the successful conclusion of its US$ 195,000,000 2-year Syndicated Term Loan Facility signed on 19 June 2019. The proceeds of the facility will be used for general corporate purposes.

The facility was initially launched at US$ 150 Million and closed at US$ 195 Million.

The transaction was arranged by Abu Dhabi Commercial Bank PJSC, Bank ABC, Commerzbank Aktiengesellschaft, Filiale Luxemburg (“Commerzbank”), Emirates NBD Capital Limited and Intesa Sanpaolo SpA, Dubai Branch as Mandated Lead Arrangers and Bookrunners. Further, Bank ABC acted as Coordinating Bank and Commerzbank as the Facility Agent.

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Company Overview

United Arab Bank was incorporated in 1975 as a private joint stock company in the Emirate of Sharjah, United Arab Emirates. The legal form of the Bank was converted to a public joint stock company pursuant to Emiri Decree No. 17/82 issued by His Highness the Ruler of the Emirate of Sharjah on 29th July 1982. On 21st March 2005, the Bank’s issued share capital was listed on the Abu Dhabi Securities Exchange.

UAB offers its customers a comprehensive suite of Retail Banking and Corporate/Institutional Banking services supported by Trade Finance Treasury services, in addition to Islamic Banking solutions.

The Bank is rated Baa3 (Stable) by Moody's and BBB+ (stable) by Fitch.

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