UAE's General Holding Corp signs $500m loan

UAE's General Holdings Corp has signed a $500 million, three-year revolving credit via seven lenders.

They are BNP Paribas, Natixis, National Bank of Abu Dhabi, RBS, Societe Generale, Standard Chartered and Union National Bank.

The club deal, which is for general corporate purposes, replaces a term loan of the same amount that matured at the end of 2010.

That transaction was completed on a club basis by three banks - National Bank of Abu Dhabi (facility agent), RBS and Union National Bank - and was signed in July 2008.