Emirates NBD has secured USD2.25B in long-term financing, achieving its most competitive pricing to date for a syndicated loan.
Robust institutional interest allowed the bank—Dubai’s largest by assets—to nearly double the size of its five-year syndicated facility to USD1.75B, up from an initial USD1B. In addition, it arranged a separate USD500M five-year Murabaha (Sharia-compliant) facility.
Despite a challenging regional and global backdrop, the bank reported that it achieved its tightest-ever pricing for a syndicated loan, alongside a longer tenor, according to a company statement.
The bank did not disclose the pricing spread over benchmark rates. A total of fifteen financial institutions from Asia, Europe, and the Americas participated across both facilities.
The strong level of oversubscription from international lenders, coupled with competitive pricing, highlights sustained market confidence in the UAE’s financial sector, CEO Shayne Nelson noted in the statement.
Emirates NBD has also been among the more impacted entities during the recent UAE stock market decline, as international investors reduced exposure following escalating geopolitical tensions linked to US-Israeli strikes on Iran, which have broadened into a wider Middle East conflict.
