United Arab Bank Obtains A Landmark Club Loan Facility

United Arab Bank has obtained a club loan facility of USD 125 million in a landmark deal for the Bank.

Commerzbank acted as the Co-ordination and Facility Agent as well as a Mandated Lead Arranger. Other Lead Arrangers included Standard Chartered Bank, Commercial Bank of Qatar, National Bank of Abu Dhabi and Emirates NBD.

Backed by a strong balance sheet, United Arab Bank has obtained this facility for two years, extendable to three, at a margin of 150 Basis Points over LIBOR. Funds will be used for general corporate purposes.

Speaking on this achievement, Paul Trowbridge, Chief Executive Officer of United Arab Bank said: “I am delighted that this landmark deal has been completed, with the support of key relationship banks from the local and international markets. The transaction affirms UAB’s fundamental strengths and reinforces our commitment to be a key player in the UAE market. I would also like to acknowledge the strategic guidance offered by our board of directors.”

HYPERLINK "http://www.uab.ae" About United Arab Bank
United Arab Bank (UAB) was established in 1975 as a joint venture between UAE investors and Societe Generale. The Bank operates with a network of 20branches and offices across the UAE with its headquarters in Sharjah. UAB offers a range of financial services in both Corporate and Retail and is acknowledged as a leading solutions provider to the growing commercial and industrial base across the seven emirates. The Bank has gained strong recognition in the corporate sector for the provision of structured finance solutions for complex banking transactions.

With the launch of its Sadara Wealth Management Unit, Islamic Banking Services and SME segment, United Arab Bank has significantly expanded its customer base. In December 2007, UAB became part of a GCC regional banking alliance upon the acquisition of 40% interest by The Commercial Bank of Qatar (Cb), Qatar’s largest private sector bank. United Arab Bank’s strong financial performance in 2011 is also indicative of the benefits gleaned from its strategic alliance with the Qatari Bank.

The Commercial Bank of Qatar has a similar alliance with National Bank of Oman (NBO), which has positioned all three banks more strongly for future growth. UAB is not only the fastest growing local UAE bank; it is also one of the most profitable. It has the strategic vision and momentum to continue on its growth trajectory, as its executive team seeks to create long term value for its shareholders.
 

Emirate:  Sharjah

Date: Dec 26, 2012

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