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AD Ports Group, the ports operator backed by the UAE sovereign wealth fund ADQ, has secured a $2 billion syndicated multi-currency facility.
The facility includes three tranches amounting to EUR600 million ($655 million), $620 million, and 2.86 billion dirhams ($780 million) with a tenure of up to 2.5 years.
The facility, which was syndicated to 13 regional and international banks, was oversubscribed nearly four times with total commitments exceeding $7.4 billion.
First Abu Dhabi Bank and Citibank were the coordinators and bookrunners, while
Mizuho Bank and Abu Dhabi Commercial Bank were the additional bookrunners.
The facility agent for the agreement is Abu Dhabi Commercial Bank.
(Writing by Brinda Darasha; editing by Seban Scaria)
