Abu Dhabi – Mubasher: Senaat signed an agreement with 11 financial institutions to receive a $400 million revolving credit facility.
Split between three-year and five-year tranches, the facility will be used to support the financing of Senaat’s general corporate requirements.
The loan will be used in lieu of the existing $750 million revolving credit facility, which was placed in 2013.
BNP Paribas and the National Bank of Abu Dhabi (NBAD) acted as joint coordinators on the financing, which was obtained at pricing below the levels achieved in 2013.
