Dubai:
UAE-based banks like Emirates NBD, First Abu Dhabi Bank and Mashreq Bank along with the Bank of Tokyo-Mitsubishi were the lead arrangers of a $332 million dual tranche and dual currency syndicated term facilities given to the Eastern and Southern African Trade and Development Bank, commonly known as TDB.
The launch amount of the transaction was $200 million but the commitments received amounted to the equivalent of $332 million, a 150 per cent over-subscription level, demonstrating the strong international appetite for TDB’s name, state-run agency WAM said in a report.
Abu Dhabi Commercial Bank was a mandated lead arranger, with lead arrangers including Commercial Bank of Dubai, the National Bank of Ras Al Khaimah, Canara Banki and the Islamic Corporation for the Development of the Private Sector. Arrangers were United Arab Bank, Al Ahli Bank of Kuwait, Bank Muscat, Banque Misr (Paris branch) and Misr Bank — Europe.
