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ABU DHABI / WAM
The National Bank of Abu Dhabi (NBAD) closed the syndication of its US$2 billion club loan facility with a large oversubscription.
Commitments of nearly $3 billion were received in syndication from 14 major international banks across Europe, Asia and the United States. However, due to its excellent liquidity position, NBAD will not be increasing the facility size and banks’ commitments have been scaled back, the bank said in a statement.
“NBAD is very pleased with the success of this transaction, which again serves to highlight the confidence in the creation of a larger, stronger bank through the merger of FGB and NBAD,†said Stephen Jordan, Group Treasurer of NBAD.