FGB successfully raises $1 billion in 3-year loan facility

FGB has completed its $1 billion three-year loan facility on September 7th, 2015, which has achieved an over-subscription of around 33 per cent from its initial launch amount of US$ 750 million.

FGB will be paying 70 bps per annum above USD Libor and has a bullet repayment at the end of the three year tenor.

The facility will be used for general financing purposes

Commenting on the deal, Christopher Wilmot, Head of FGB’s Treasury and Global Markets Group, said, "The transaction is a continuation of our strategy to lengthen our liability profile in line with the CB UAE’s recently published liquidity regulations.

“Given the recent performance of emerging markets, the pricing and healthy level of oversubscription is a testament to FGB’s continued attractiveness as a borrower."

Bank of America Merrill Lynch International Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd, Barclays Bank PLC, BNP Paribas, Citigroup, Commerzbank Aktiengesellschaft, Deutsche Bank AG, London Branch, HSBC Bank Middle East Limited, ING Commercial Banking, Mizuho Bank Ltd., Natixis, Sumitomo Mitsui Banking Corporation – Dubai Branch, UniCredit Bank AG, and Wells Fargo Bank, N.A., London Branch, were mandated lead arrangers and bookrunners for the transaction

The bank is rated A2, A+ by Moody's and Fitch respectively.

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