AD Ports raises $2bn multi-currency facility with syndicate of 13 banks

AD Ports raises $2bn multi-currency facility with syndicate of 13 banks

Abu Dhabi Ports (AD Ports) Group, the exclusive developer and regulator of ports and related infrastructure in UAE, has signed a General Corporate Facility agreement with a syndicate of 13 regional and international banks.

The multi-currency facility, equivalent to around $2 billion, includes three tranches amounting to $655 million, $620 million, and $7,79,564 with a tenure of up to 2.5 years.

The demand for the facility was overwhelming, with commitments of $7.4 billion in total from the participating banks. The funding requirement was therefore 3.7x oversubscribed, demonstrating the confidence that the banking sector has in AD Ports Group’s financial health and prospects.

In addition to strong demand for this new syndicate facility, AD Ports Group managed to improve pricing compared with the $1 billion RCF that the Group had secured in 2021. AD Ports Group is A+ credit rated by both Fitch and S&P Global, which reaffirmed their ratings post-listing and most recent announcements of acquisitions.

Capt. Mohamed Juma Al Shamisi

MD & Group CEO

AD Ports Group “The success in raising the $2 billion facility reflects our profitable and enduring business as well as underscoring AD Ports Group’s strong financial position and the confidence that the banking sector has in our organization’s robust long-term financial