The two year murabaha loan was launched at $150m and was increased to meet all commitments from the seven lenders.
Noor Bank was initial mandated lead arranger and bookrunner.
Dubai Islamic Bank, First Gulf Bank, Sharjah Islamic Bank, The Arab Investment Company and Warba Bank were mandated lead arrangers. National Bank of Bahrain was an arranger.
Pricing is not known, though the margin was tighter than the loan which has been refinanced, according to a banker on the deal.
The deal refinances a $155m term loan the Islamic bank signed in February 2015 which had Noor Bank as bookrunner. Emirates NBD and First Gulf Bank were mandated lead arrangers while United Arab Bank and Warba were participants.
Ajman posted profits of Dh122m($33.2m) in 2015, a 72% leap from DH71m in the year before.