The Non-public Division of Sheikh Mohamed Bin Khalid Al Nahyan (PD) has efficiently closed a landmark AED3bn ($816m) syndicated real estate financing, marking a big milestone within the group’s monetary technique and capital markets journey.
The ten-year facility will probably be used to refinance present financial institution debt on enhanced phrases, settle sukuk obligations, and assist basic company functions, strengthening PD’s long-term stability sheet place.
Secured towards a high-quality portfolio of actual property property throughout Abu Dhabi and Dubai, the construction supplies PD with larger monetary flexibility.
Landmark actual property finance deal
The transaction displays robust institutional confidence in PD’s monetary power and long-term imaginative and prescient.
The syndicated mortgage was organized by a consortium of main native lenders:
- Abu Dhabi Business Financial institution PJSC (ADCB) and Mashreqbank PSC (Mashreq) acted as Joint Coordinators and Account Banks
- ADCB, Business Financial institution of Dubai PSC (CBD), and Mashreq acted as Joint Mandated Lead Arrangers and Bookrunners, in addition to Hedging Banks
- Extra roles included ADCB as Facility Agent and Safety Agent, and CBD as Market Hedge Coordinator
Dr. Ahmed Mansour, Chief Government Officer of PD, stated: “It is a milestone achievement. The Non-public Division has simply managed to ship one in all its greatest objectives in its financing technique by closing this syndicate in addition to updating its Debt Capital Market Programme.
“This marks one of many largest syndicated loans within the UAE actual property market, an important step that helps the Non-public Division’s funding technique and shapes its new capital construction sooner or later.
“By this achievement, the Non-public Division has secured larger confidence from the native banks moreover its profitable DCM Programme replace, which will probably be used for the upcoming issuances to take care of diversification of funding sources.
This mortgage syndicate with the connected phrases, moreover the up to date Capital Market Programme, will considerably assist the liquidity place that will probably be used to assist future investments.
“That is anticipated to positively replicate within the Non-public Division’s future credit standing and capital market issuances.”
Established in 1964, PD is 100 per cent owned by members of the Abu Dhabi ruling household. The group owns one of many largest diversified recurring-income actual property portfolios within the UAE, together with:
- Greater than 2,500 income-generating residential items
- 60,009 sq m of business house
- Two five-star operational accommodations in Abu Dhabi and Dubai
The profitable closure of the AED3bn ($816m) financing additional strengthens PD’s place as one of many UAE’s most vital personal actual property gamers.