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GC Asia
First Gulf Bank tightens margins on $1bn loan for liquidity needs
Abu Dhabi's First Gulf Bank has agreed a loan at a margin 60bp tighter than its last deal, as it raises $1bn to meet the liquidity requirement of the United Arab Emirates central bank.
On Monday FGB signed a $1bn three year term loan with a syndicate of 14 mandated lead arrangers and bookrunners.
The deal, led by Bank of America Merrill Lynch and Wells Fargo, was launched at $750m and increased to $1bn after oversubscription.
GlobalCapital reported last week that all-in ...Already a subscriber? Login
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