DUBAI Dec 7 National Bank of Abu Dhabi
(NBAD) has secured a $2 billion loan, it said in a
bourse statement on Wednesday.
Reuters reported last month that the bank aimed to complete
the loan, aimed at refinancing existing bilateral debt and
provide new funding, by the second week of December.
On Oct. 27 NBAD said raising the money would help
consolidate its banking relationships ahead of its planned
merger with First Gulf Bank.
The merger will create one of the largest banks by assets in
the Middle East and Africa when completed in the first quarter
NBAD on Wednesday did not elaborate on the details of the
loan, but sources told Reuters last month that it would have a
lifespan of three years and require participating lenders to
each pledge $200 million in return for a fee of 30 basis points.
(Reporting by Tom Arnold; editing by Jason Neely)