Abu Dhabi – Mubasher: Abu Dhabi Ports Company (AD Ports) has signed an agreement with First Abu Dhabi Bank (FAB) and Emirates NBD Capital Limited (ENBD) to refinance its syndicated loan of AED 9.17 billion ($2.50 billion) one year ahead of schedule.
The transaction also includes an additional accordion option of AED 3 billion and has a tenor of three years, maturing in March 2029, according to a press release.
The new facility maintains AD Ports’ flexibility to optimally time its return to the debt capital markets in line with its strategy to utilize bonds as the predominant long-term funding vehicle.
Meanwhile, the new syndicated loan replaces a two-and-a-half-year maturity medium-term facility that was arranged in September 2024.
Martin Aarup, Chief Financial Officer of AD Ports, said: “This new refinancing agreement not only allows the group to optimize our financing costs but also gives us additional flexibility to proactively manage our debt profile and puts us in a position to capitalize on more favorable market conditions as they emerge, taking advantage of potential future interest rate-cycle easing to refinance the company's capital needs at competitive rates, in line with our capital structure.”
AD Ports closed 2025 with 19% year-on-year (YoY) higher net profits at AED 2.08 billion, compared to AED 1.77 billion in 2024.
