{"id":70009,"date":"2023-04-05T00:00:00","date_gmt":"2023-04-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/05\/ad-ports-bags-usd-2-bn-syndicated-facility-from-13-regional-intl-banks\/"},"modified":"2023-04-05T00:00:00","modified_gmt":"2023-04-05T00:00:00","slug":"ad-ports-bags-usd-2-bn-syndicated-facility-from-13-regional-intl-banks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/05\/ad-ports-bags-usd-2-bn-syndicated-facility-from-13-regional-intl-banks\/","title":{"rendered":"AD Ports bags USD 2 bn syndicated facility from 13 regional + int\u2019l banks"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Abu Dhabi Ports secures USD 2 bn in financing: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adportsgroup.com\/en\/about-us\" style=\"\">AD Ports<\/a><\/span><span style=\"\"> is getting a <\/span><span>multi-currency USD 2 bn syndicated facility from a group of regional and international banks, <\/span><span>according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/431vCtU\" style=\"\">press release<\/a><\/span><span style=\"font-weight:400;\">. The facility\u2019s three tranches include one worth AED 2.9 bn, another coming in at EUR 600 mn, and a third worth USD 620 mn \u2014 all with a tenor of 30 months. The facility was 3.7x oversubscribed, drawing some USD 7.4 bn in demand, according to the statement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The details:<\/span><span> AD Ports released no information on the pricing of the facility, but said it had managed to secure a more favorable rate than it did in 2021, when it <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tools.eurolandir.com\/tools\/Pressreleases\/GetPressRelease\/?ID=4014488&lang=en-GB&companycode=ae-ports&v=\" style=\"\">issued<\/a><\/span><span> USD 1 bn worth of bonds at an annual rate of 2.<\/span><span>5<\/span><span style=\"font-weight:400;\">%. The statement did not disclose where the funds will be directed.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The banks involved:<\/span><span style=\"font-weight:400;\">First Abu Dhabi Bank and Citibank were co-ordinators and bookrunners for the transaction. Mizuho Bank and Abu Dhabi Commercial Bank were also bookrunners. Soci\u00e9t\u00e9 G\u00e9n\u00e9rale and Emirates NBD Capital were mandated lead arrangers, while HSBC Bank Middle East, Standard Chartered Bank, BNP Paribas, Cr\u00e9dit Agricole Corporate and Investment Bank, and Bank of China were lead arrangers. Sumitomo Mitsui Banking Corporation and Industrial and Commercial Bank of China acted as arrangers.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The facility was 3.7x oversubscribed<\/p>\n","protected":false},"author":1,"featured_media":70010,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[166],"tags":[809,444,165,17],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-70009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-abu-dhabi-ports","tag-debt","tag-debt-watch","tag-enterprise-logistics","wpautop","entry"],"acf":{"mongo_id":"89b46025-99da-40ce-9fe2-fccba899703f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/202.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[70000],"teaser":"The facility was 3.7x oversubscribed","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.1fae05c3-49c3-429d-a0ad-9ded12ebad99.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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