National Bank of Fujairah Secures US $235 Million Club Loan

National Bank of Fujairah (NBF) has announced the signing of a US $235 million club loan with a consortium of multinational banks. This 2-year facility will be used to support the bank's general business operations, reflecting its strong position in international financial markets. The facility was led by Emirates NBD and National Bank of Abu Dhabi, with Wells Fargo and NA as Initial Mandated Lead Arrangers.

Key Takeaways:

• The club loan facility has a total value of US $235 million, with a 2-year tenor.
• The facility was led by Emirates NBD and National Bank of Abu Dhabi, with Wells Fargo and NA as Initial Mandated Lead Arrangers.
• Commerzbank AG was appointed as Facility Agent and Mandated Lead Arranger, while HSBC, Standard Chartered Bank, and Lloyds TSB Bank PLC were Mandated Lead Arrangers.
• Vince Cook, CEO of National Bank of Fujairah, stated that the successful syndication allowed NBF to raise funds from fewer partners than initially anticipated, highlighting the bank's strong position in the financial community.
• The CEO emphasized the transaction as a testament to NBF's trustworthiness, reinforcing the bank's reputation as a leading business bank and partner of choice.
• Rick Pudner, CEO of Emirates NBD, expressed confidence in the bank's debt capital market credentials and expressed a desire to work closely with NBF on future debt capital market initiatives.

Statistics:

• US $235 million: The total value of the club loan facility.
• 2 years: The tenor of the club loan facility.
• 5 banks: The number of mandated lead arrangers involved in the facility, including Emirates NBD, National Bank of Abu Dhabi, Wells Fargo, and NA, as well as HSBC and Standard Chartered Bank collectively.

Sources:

• National Bank of Fujairah
• Emirates NBD
• Wells Fargo
• NA
• Commerzbank AG
• HSBC
• Standard Chartered Bank
• Lloyds TSB Bank PLC