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