Bank of Sharjah has picked four banks to raise at least $100 million through a new two-year loan, the lender said in a statement to the bourse on Tuesday.
The Abu Dhabi listed bank also said it would repay a $150 million one year loan signed in 2010 at maturity on July 29, without the need to refinance it.
"The bank enjoys high liquidity and the purpose of the deal is to source US dollars to manage the bank's assets and liabilities currency mismatches," the statement said.
The new loan will be lead arranged by Commerzbank while National Bank of Abu Dhabi, Intesa Sanpaolo and Wells Fargo are arrangers.
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