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AD Ports Group gets $2bn corporate loan from 13 banks’ syndicate

The weight of goods exported to Russia was 1,495,000 tons, indicating a growth of 66%..
  • The multi-currency facility includes three tranches amounting to EUR 600 million, US$620 million, and AED2,863 million
  • The demand for the facility was overwhelming, with commitments of US$7.4 billion in total from the participating banks

Abu Dhabi, UAE – AD Ports Group on Tuesday announced the signing of a General Corporate Facility agreement with a syndicate of 13 regional and international banks.

The multi-currency facility, equivalent to around US$2 billion, includes three tranches amounting to EUR 600 million, US$620 million, and AED2,863 million with a tenure of up to 2.5 years.

The demand for the facility was overwhelming, with commitments of US$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 US$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.

“The success in raising the US$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 organisation’s robust long-term financial performance,” Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said. “This recent announcement also goes further to reinforce our ambitious strategic development plans and the UAE’s wise leadership’s vision for economic diversification.”