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