Emirates NBD finances aerospace hub, Temasek and Pantheon eye Abu Dhabi, Mubadala keeps moving in India, Agrobank comes back to Mashreq

Emirates NBD finances TIM’s Dubai South MRO hub

Emirates NBD is financing TIM Aerospace, an independent aircraft maintenance, repair, and overhaul (MRO) provider, as it builds out its Dubai South hub at Al Maktoum International Airport (DWC). The bank is providing a bilateral capex term loan for the construction and launch of the facility, with the financing size undisclosed, according to a press release. The nearly 26k-sqm site includes an 18k-sqm hangar capable of handling up to 12 narrow-body or five wide-body aircraft at once.

It joins a much bigger maintenance buildout around DWC: We covered TIM’s hangar last November, after the company first signed on to the project in 2023. Flydubai is also building a USD 190 mn MRO hub, while Falcon Aviation has earmarked USD 100 mn for upgrades — part of the aviation infrastructure taking shape around Al Maktoum as Dubai builds it out into its future main airport.

Pantheon lands in Abu Dhabi

London-based private markets investor Pantheon set up shop in Abu Dhabi, with an ADGM office to target regional appetite for private equity, infrastructure, and private credit strategies, according to a press release. The asset manager, with USD 84 bn in AUM, appointed Firas Mallah — formerly head of MENA at Sagard — as MD and head of Middle East to lead the new onshore unit.

Private markets move east: Pantheon joins a growing lineup of global alternative managers, including EQT, Sixth Street, Barings, and Bain Capital, nestling closer to Gulf sovereign wealth funds and institutional family offices as private wealth investors seek greater access to private-market assets.

Mubadala keeps its India pipeline moving

Mubadala completed a secondary sell-down in India’s Cube Highways Trust, raising INR 6.8 bn (USD 82.5 mn) through its investment arm Seventy Second Investment Company, according to BSE index data. Seventy Second disposed of 44.97 mn units in the listed infrastructure investment trust — a 3.35% stake — at an average price of INR 153.3 per unit. That is a 0.93% discount to Cube Highways’ previous closing price. As of the end of June, Mubadala held a 6% stake in the toll platform operator, according to BSE data.

The buyers: The entire block was absorbed by domestic Indian institutional investors, led by engineering giant Larsen & Toubro, which purchased INR 1.5 bn (USD 15.6 mn) worth of units as the largest buyer, while mutual funds and life insurers acquired the rest.

IN CONTEXT- This reads more like portfolio recycling than an Abu Dhabi retreat from India. Adia has anchored two of India’s biggest IPOs this year — Manipal Health and the National Stock Exchange — while Mubadala itself held onto its existing 8% Manipal stake rather than selling down alongside Adia’s entry.

Agrobank comes back to Mashreq — for a much bigger check

Uzbekistan’s Agrobank closed a USD 300 mn, two-year syndicated term loan led by our friends at Mashreq, which acted as coordinator, initial mandated lead arranger, bookrunner, and documentation agent, according to a company statement. The facility was launched at USD 140 mn but drew USD 365 mn of commitments from 19 lenders across MENA, the CIS, and the Far East — more than 2.6x the original target — before being capped at USD 300 mn.

This isn’t Agrobank’s first Mashreq-led trip to the loan market: We reported in 2024 that the UAE lender arranged a USD 88 mn, one-year facility for Agrobank — the first syndicated loan by an Uzbekistan-owned bank in the MENA region at the time. The new transaction is more than triple that size and came in well above its original launch target.

Standing with the club

Manchester City sponsor Etihad Airways will consult with counsel on taking legal action against the Premier League after an independent commission found the club had breached the league’s financial rules over nine seasons, The Athletic reports, citing a statement by the airline. The Abu Dhabi-based carrier said it “categorically rejects any finding, conclusion, or implication that suggests the airline has ever been involved in improper commercial arrangements.” Etihad Airways was not named in the commission’s report, which was partially redacted.

ICYMI- An independent panel found Manchester City guilty this week of 114 of the 115 financial rule charges brought against it by the Premier League. The club — charged in February 2023 — was cited for violations committed from 2009 to 2018 involving financial reporting, player and manager pay, regulatory compliance, and investigation cooperation. Premier League CEO Richard Masters characterized the case and decision as “the most significant in Premier League history.”