First Gulf Bank Arranges for US$800 million Three Year, Senior Unsecured Term Loan Facility

Abu Dhabi: In a significant move to consolidate its solid financial position and to enhance its funding profile, First Gulf Bank (FGB) has mandated The Bank of Tokyo-Mitsubishi UFJ Ltd., Citibank N.A.-London Branch, Commerzbank Aktiengesellschaft Deutsche Bank AG-London Branch, HSBC, Mizuho Corporate Bank Ltd., National Bank of Abu Dhabi PJSC and Standard Chartered Bank, as Initial Mandated Lead Arrangers and Bookrunners, to arrange on its behalf a new US$800 million three year, senior unsecured term loan facility.

The Bank of Tokyo-Mitsubishi UFJ Ltd. is acting as the Coordinator and Facility Agent, Standard Chartered Bank is acting as the Documentation Agent and Mizuho Corporate Bank Ltd. is acting as the Signing and Publicity Agent for the Facility.

Commenting on the deal, Andre’ Sayegh, CEO of FGB said: “In line with its continuous efforts to efficiently manage its balance sheet, and maintain its consistently strong performance, FGB is arranging for this loan facility to support its growth and expansion in the local and targeted international markets.

The facility adds diversification to the sources of funds and improves the funding maturity profile on FGB’s balance sheet” As one of the leading banks in the UAE, First Gulf Bank (FGB) has Shareholder Equity of AED 27 billion as of Q2 2012 making it one of the largest equity based banks in the UAE. Established in 1979 and headquartered in the UAE capital, Abu Dhabi, the bank provides financial services in various business and industrial areas with a wide network of branches across the Emirates; in addition to the bank’s branches in Singapore and Qatar, a representative office in India and a subsidiary in Libya. The Bank is among the highest rated regional banks with long term credit ratings of A+ and A2 from Fitch and Moody’s respectively.

The Facility of USD 800 million will be used for general financing purposes, has a tenor of 3 years, with a bullet repayment at the end of the period. The pricing is at 130 bps per annum above the USD benchmark rate.

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