Stand-in skipper Jitesh believes the absence of key England players will not affect his side's morale on Sunday
sports5 hours ago
Abu Dhabi: Aabar Investments has signed a ?3.6 billion (Dh14.9 billion) loan facility with a lead syndicate of nine global banks.
The five-year senior unsecured, non-guaranteed facility serves to refinance several of the diversified investment firm's pre-existing facilities and was arranged on tighter terms compared to previous facilities, reflecting the company's improved credit profile.
"This transaction is a strong commitment by the global financial community based on confidence in our business model," said Suhail Al Mazroui, chairman of Aabar Investments and managing director of International Petroleum Investment Company (IPIC).
"We are partnering with nine of the world's leading financial institutions based on long-term, mutually beneficial relationships."
Bank of America Merrill Lynch, BNP Paribas, HSBC, Intesa Sanpaolo, JPMorgan Chase, National Bank of Abu Dhabi, as documentation bank and facility agent, Natixis, Societe Generale and Sumitomo Mitsui Banking Corporation are leading the facility as mandated lead arrangers and book runners.
A further limited syndication of the facility is now in the process of being arranged.
"The improved conditions achieved by Aabar in this credit facility are a reflection of the market's confidence in our operations and strategy, which is also an endorsement to the support and confidence in our shareholder," said Mohamed Al Mehairi, chief executive officer of Aabar Investments.
Optimal structure
"Locking in this long-term facility is important for Aabar as the company moves forward with its strategy of diversified investment in attractive global opportunities. The transaction was led by the finance teams of IPIC and Aabar, who had created an optimal structure to tap available liquidity in the global banking system."
Aabar, which is part of the IPIC Group, invests globally in various sectors, including real estate, financial services, energy, commodities and aerospace.
- haseeb@khaleejtimes.com
Stand-in skipper Jitesh believes the absence of key England players will not affect his side's morale on Sunday
sports5 hours ago
Netanyahu came under personal attack from Defence Minister Yoav Gallant for failing to rule out an Israeli government in Gaza after the war
world5 hours ago
The fund is designed to finance the production of artistic and creative works in film, music, performances, and video games
uae5 hours ago
Fico has been in hospital since Wednesday when a lone gunman shot him four times, including in the abdomen
world6 hours ago
The country was one of the donor states to freeze around $450 million in funds after Israel accused 12 UNRWA staff of participating in the Hamas-led attack
world6 hours ago
This inclusive community service is available daily on Al Hamriya Beach from 6.00am to sunset
uae7 hours ago
The floods on Friday also destroyed about 2,000 houses, and damaged thousands more homes and businesses
world7 hours ago
They waited nearly two decades before the club was able to break the trophy drought
football7 hours ago