Search Site

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Aramco-Horse Powertrain deal completed

An agreement for the purchase of 10% equity stake was signed in June 2024.

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

Mashreq closes $88m loan

Mashreq is one of the oldest banks in the region.
  • Mashreq acted as sole coordinator, initial mandated lead arranger, bookrunner, and facility agent for the deal.
  • Marking a debut transaction for an Uzbekistan state-owned bank in the MENA region, the facility was oversubscribed by 75 percent.

Dubai, UAE — Mashreq announced closing a $88 million one-year syndicated term loan facility for Joint-Stock Commercial Bank, Agrobank. Mashreq acted as sole coordinator, initial mandated lead arranger, bookrunner, and facility agent for the deal.

Marking a debut transaction for an Uzbekistan state-owned bank in the MENA region, the facility was oversubscribed by 75 percent, and its proceeds will be used towards general corporate purposes.

Joel Van Dusen, Group Head of Corporate & Investment Banking at Mashreq, said, “We are pleased to have facilitated this landmark deal with Agrobank and be part of the bank’s growth journey. The collaboration reinforces Mashreq’s commitment to fostering growth in emerging markets and supporting small businesses operating in vital sectors, such as agriculture.”

The facility was initially launched at US$50 million and closed at US$88 million due to the positive market interest from investors in the Middle East, Europe, and the Commonwealth of Independent States (CIS) region.

Agrobank, serving over 3.6 million clients, plays a pivotal role in Uzbekistan’s agricultural sector and its economy in general.