Dubai – Mubasher: Mashreq Bank has closed AED 500 million syndicated loan for the Eastern and Southern African Trade and Development Bank (TDB), according to a press release.
Mashreq acted as sole coordinator, initial mandated lead arranger, bookrunner, and facility agent for the debut deal, which marks the first-ever syndicated loan for TDB in AED currency.
The facility was successfully subscribed by 7 leading institutions from the Gulf region. It holds a tenor of one year and features an extension option.
Meanwhile, the facility proceeds will be used towards general corporate purposes.
This transaction provides TDB access to the evolving, dynamic and deep AED liquidity pool allowing it to develop relationships with lenders with key lending considerations.
The financing aligns with Mashreq’s objectives to connect investors with borrowers across continents.
Mashreq recently announced that a consortium including Arcapita Group Holdings Limited and Dgpays plan to acquire a majority stake in NEOPAY, with an approximate enterprise value of $385 million.
