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Emirates Steel finalizes USD 400 million Murabaha facility- The 20th China (Guangzhou ) Int’l tube & pipe Processing Equipment Exhibition
12/17/2018 管材展-钢管展-steel tube expo-tube &pipe expo |
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Emirates Steel has finalized a significant loan refinancing deal that will enable the Company to accelerate deleveraging, increase financial flexibility, simplify its debt structure and fund its growth plans. The new financing replaces Emirates Steel’s outstanding secured debt with a corporate financing structure reflecting the established nature of the company. The loan facility has a tenure of four years and is structured as an unsecured amortising term loan.
The successful issuing of USD 300 million by Senaat, which recently listed on the Abu Dhabi stock market as the first-of-its-kind dual listing between ADX and the London Stock Exchange, has strengthened the position and ability of Emirates Steel to complete a loan refinance by obtaining preferential refinancing options based on a Sharia compliant financing instrument.
The new loan facility will be used for general corporate purposes, including the refinancing of the company’s existing bank debt. The facility was coordinated by BNP Paribas, with Abu Dhabi Islamic Bank acting as the Islamic Structuring Bank.
管材展-钢管展-2019广州国际管材及管材加工设备展－中国展出效果最好的管材展-巨浪展览
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