RGE closes US$787mln in SLLs with FAB and NBK among the lead arrangers

RGE closes US$787mln in SLLs with FAB and NBK among the lead arrangers

- First Abu Dhabi Bank and the National Bank of Kuwait were among the lead arrangers and bookrunners

- Other lenders in the consortium of 20-plus banks included the National Bank of Fujairah and Invest Bank

Dubai, UAE: Royal Golden Eagle (RGE), a global group of resource-based manufacturing companies headquartered in Singapore, announced that its member company Apical Group (Apical) has closed US$787 million in Sustainability-Linked Loans (SLLs), with strong support of Middle Eastern banks.

UAE’s largest bank, First Abu Dhabi (FAB), and Kuwait’s largest financial institution, the National Bank of Kuwait (NBK), were among the mandated lead arrangers, bookrunners and underwriters for the SLLs. Other Middle Eastern lenders in the consortium of more than 20 banks included the National Bank of Fujairah (NBF) and Invest Bank.

Tey Wei Lin, President, RGE, said: “Sustainability is at the core of our business model and sustainable financing is the way forward for RGE. Encouraged by the strong participation from Middle Eastern banks for Apical’s latest round of SLLs, we aim to contribute more to the growth of sustainable financing in the region, as we grow our business.”

Green and sustainability-linked debt issuance in the Middle East and North Africa (MENA) region has outpaced global growth, rising from