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UAE's Ajman Bank finalising $205 mln Islamic syndicated loan -bankers
October 18, 2016 / 9:21 AM / a year ago

UAE's Ajman Bank finalising $205 mln Islamic syndicated loan -bankers

DUBAI, Oct 18 (Reuters) - Ajman Bank, a United Arab Emirates-based, sharia- compliant lender, is raising a $205 million Islamic syndicated loan, banking sources said on Tuesday

The loan, which has a two-year maturity and a murabaha format, will be completed imminently, the sources said, with one saying it would close as soon as Wednesday.

Ajman Bank did not respond immediately to a request for comment.

The loan is backed by lenders including Noor Bank, which is investment agent and bookrunner, and Dubai Islamic Bank , the sources said.

Ajman Bank raised $155 million through another two-year murabaha loan in March last year and an additional $200 million three-year syndicated Islamic debt facility in January 2015. (Reporting by Davide Barbuscia; Editing by Andrew Torchia and David Goodman)

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