The Non-public Division of Sheikh Mohamed Bin Khalid Al Nahyan (PD) has efficiently closed a landmark AED3bn ($816m) syndicated actual property financing, marking a major milestone within the group’s monetary technique and capital markets journey.
The ten-year facility shall be used to refinance present financial institution debt on enhanced phrases, settle sukuk obligations, and help basic company functions, strengthening PD’s long-term stability sheet place.
Secured in opposition to a high-quality portfolio of actual property property throughout Abu Dhabi and Dubai, the construction offers PD with larger monetary flexibility.
Landmark actual property finance deal
The transaction displays sturdy institutional confidence in PD’s monetary energy and long-term imaginative and prescient.
The syndicated mortgage was organized by a consortium of main native lenders:
- Abu Dhabi Industrial Financial institution PJSC (ADCB) and Mashreqbank PSC (Mashreq) acted as Joint Coordinators and Account Banks
- ADCB, Industrial Financial institution of Dubai PSC (CBD), and Mashreq acted as Joint Mandated Lead Arrangers and Bookrunners, in addition to Hedging Banks
- Further roles included ADCB as Facility Agent and Safety Agent, and CBD as Market Hedge Coordinator
Dr. Ahmed Mansour, Chief Govt Officer of PD, stated: “This can be a milestone achievement. The Non-public Division has simply managed to ship certainly one of 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 apart from its profitable DCM Programme replace, which shall be used for the upcoming issuances to keep up diversification of funding sources.
This mortgage syndicate with the connected phrases, apart from the up to date Capital Market Programme, will considerably help the liquidity place that shall be used to help 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 models
- 60,009 sq m of business house
- Two five-star operational lodges 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 important personal actual property gamers.
