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Sat, Nov 09, 2024 | Jumada al-Awwal 7, 1446 | DXB
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Ahli United Bank to Repay $400m Loan
DUBAI — Ahli United Bank, or AUB, has announced that it is set to repay $400 million of $1.2 billion syndicated loan by the end of August 2009, well ahead of its final maturity date.
The 3-year loan facility was signed during October 2006 with a total of 51 international banks participating, and represented at the time the largest financing deal ever secured by a bank in the Middle East. The early repayment demonstrates the Bank’s strong liquidity position, solid capitalisation and confidence in sustaining growth despite the current economic downturn, A Press statement said.
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