Font Size
Share this article


Print Friendly Version
04 February 2020
INVESTMENT

EGA secures $600 million revolving credit facility from a syndicate of banks

The three-year committed facility replaces uncommitted facilities extended to EGA separately by several banks

A committed facility is a credit facility whereby terms and conditions are clearly defined by the lending institution/Bloomberg

by Kudakwashe Muzoriwa

Emirates Global Aluminium (EGA), UAE’s largest industrial company outside of the oil and gas sector, has secured a $600 million revolving credit facility with a syndicate of local and international banks.

Abdulnasser Bin Kalban, the Chief Executive Officer of EGA, said, “This committed revolving credit facility is the next step in the evolution of our financing and balance sheet management strategy and enables a robust and structured approach to manage our short term working capital and liquidity position.”

A committed facility is a credit facility whereby terms and conditions are clearly defined by the lending institution and imposed upon the borrowing company.

Commercial Bank of Dubai, Emirates NBD, Mashreq and Standard Chartered acted as the joint lead arrangers and bookrunners for the deal.


RELATED STORIES: Emirates Global Aluminium Commercial Bank of Dubai Emirates NBD Mashreq Standard Chartered

MOST READ


RECOMMENDED NEWS



BRANDS MAGAZINES LATEST EDITION

OUR BRANDS



CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.


Subscribe to our News Letter

Subscribe

© 2019 CPI Financial. All rights reserved.

No part of this website may be reproduced or used in any form of advertising without prior permission in writing from the editor.