Pakistan signs $375 million syndicated loan with UAE banks

Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development, and Tariq Bajwa, former Governor of the State Bank of Pakistan, sign an agreement to formalize a $3 billion deposit into an SBP account on January 22, 2019. (Photo courtesy: ADFD)

• Tranches were fully subscribed by a syndicate of leading UAE banks
• Emirates NBD Capital Limited is a global coordinator

DUBAI: Pakistan signed a $375 million syndicated loan with banks in the United Arab Emirates in June made up of conventional and Islamic banking tranches, the Pakistani government said on Saturday.
The tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said.
Emirates NBD Capital Limited was global coordinator.
The transaction was anchored and arranged by Commercial Bank of Dubai, Emirates NBD Bank, Noor Bank , Dubai Islamic Bank, Mashreqbank and Sharjah Islamic Bank.