Mashreq closes TDB’s first AED-denominated loan: Our friends at Mashreq arranged the first AED-denominated syndicated loan for the Eastern and Southern African Trade and Development Bank (TDB), valued at AED 500 mn, according to a statement (pdf). The lender acted as the sole coordinator, lead arranger, bookrunner, and facility agent on the transaction.

The details: Mashreq launched the loan, which was subscribed by seven Gulf institutions, in July, the statement said, without disclosing the names of the institutions. The one-year facility, which includes an extension option, will be used for general corporate purposes, it added.

What they said: “This transaction provides TDB access to the evolving, dynamic and deep AED liquidity pool, allowing it to develop relationships with lenders with unique lending considerations,” the statement reads.

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