Abu Dhabi bank ups loan to $1.5 bln

LONDON - Abu Dhabi Commercial Bank ADCB.AD, has increased its five-year loan to $1.5 billion from $1 billion after the deal closed oversubscribed, making it the biggest syndicated loan for a Middle Eastern bank to date, a banking source said on Thursday.

By (Reuters)

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Published: Thu 22 Mar 2007, 6:59 PM

Last updated: Sat 4 Apr 2015, 10:53 PM

Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Commerzbank and Standard Chartered Bank are acting as bookrunners on the deal, while ING is a mandated lead arranger. They will sign banks into the deal on March 30.

The previous largest deal for a Middle Eastern bank was a $1.2 billion loan agreed by Ahli United Bank last year.

The government of Abu Dhabi, through Abu Dhabi Investment Authority, holds 65 percent of Abu Dhabi Commercial Bank’s stock while the rest is held by UAE institutions and private investors.

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