First Gulf Bank, Mubadala and 5 other banks jointly finance Paris Sorbonne University

Abu Dhabi: First Gulf Bank (FGB) has signed, along with five other regional and international banks, a $323 million syndicated loan with Mubadala Development Company.

The 20-year loan will be used to finance the new campus of Paris Sorbonne University Abu Dhabi.

FGB will act as the mandated lead arranger providing 25 per cent of the total project value, as well as the Onshore Security Agent and the Onshore Accounts Bank.

Joining First Gulf Bank as mandated lead arrangers are Bank of Tokyo-Mitsubishi UFJ Ltd, BNP Paribas, Calyon, which is the Facility Agent and Offshore Security Agent, Royal Bank of Scotland and Sumitomo Mitsui Banking Corporation.