Impressions #

20 Million


Media Coverage #


Saturday, January 21, 2006 - Dubai

National Bank of Fujairah Completes US$130 Million Term Loan Facility

67 /

Page views

Nbf logo blue

The National Bank of Fujairah P.S.C (Abu Dhabi Securities Market NBF) today announced the completion of a US$130 million Term Loan Facility in London where HSBC Bank plc (“HSBC”) and ING Bank N.V. (“ING”), together were the Mandated Lead Arrangers and Joint Bookrunners.

The Facility, which launched at US$100 million was oversubscribed in early syndication resulting in the Facility being increased to US$130 million. The three-year facility is intended to be used by NBF for general funding purposes.

Asad Ahmed, General Manager of National Bank of Fujairah, commented: “We are very pleased at the outcome of this syndication. Both HSBC and ING have done a commendable job. The transaction was completed swiftly with a very select group of financial institutions. This syndicated borrowing – our largest to date – demonstrates well NBF’s position and reputation in the international banking community.”

The transaction was signed on 22 December 2005. A celebratory lunch was held in London today to celebrate this successful syndication.

John Starling, Director, Debt Finance of HSBC Bank plc, on behalf of the Mandated Lead Arrangers, noted: “This syndicated loan is an important milestone in NBF’s history, as it represents the largest and most cost-effective financing achieved to-date by NBF. The significant over-subscription, coupled with the focused syndication strategy that we executed, demonstrates the strong relationship support NBF enjoys in the international bank market.”

The syndicate comprises:

Mandated Lead Arrangers
HSBC Bank plc
ING Bank N.V.

Lead Arrangers
American Express Bank GmBH
Bank Austria Creditanstalt
Commerzbank Aktiengesellschaft
Dresdner Bank AG
DZ Bank AG
LRP Landesbank Rheinland-Pfalz
Lloyds TSB Bank plc
Raiffeisen Zentralbank Österreich Aktiengesellschaft
Wachovia Bank, National Association


Don’t miss any of our latest BUSINESS NEWS from the Middle East by SUBSCRIBING to our business news alerts.

Download Story
  • Email sent successfully!

Icon fb Icon twitter Icon gplus