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$375m syndicated loan signed with UAE banks

Updated June 30, 2019

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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 government said on Saturday. — AP/File
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 government said on Saturday. — AP/File

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 government said on Saturday.

The tranches were fully subscribed by a syndicate of leading UAE banks, the statement said.

Emirates NBD Capital Ltd was global coordinator and the transaction was anchored and arranged by Commercial Bank of Dubai, Emirates NBD Bank, Noor Bank, Dubai Islamic Bank, Mashreq­bank and Sharjah Islamic Bank.

Published in Dawn, June 30th, 2019