United Arab Bank raises dollars from local and European banks

United Arab Bank 230x150.jpg
By Mariam Meskin
25 Jun 2019

Sharjah-based United Arab Bank (UAB) has raised a $195m loan from a consortium of local and European banks, as borrowers in the region continue to diversify their portfolios with international lenders.

The two year term loan matures in June 2021. 

Abu Dhabi Commercial Bank, Arab Banking Corp, Commerzbank, Emirates NBD and Intesa Sanpaolo were bookrunners. Commercial Bank was mandated lead arranger. 

Commerzbank acted as facility agent, and Arab Banking Corp was coordinator. 

Borrowers in the GCC are pivoting further towards international lenders instead of local banks in a ...

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