AD Ports Group, a leading global enabler of trade,industry and logistics solutions, has signed an agreement with two leading UAE banks to refinance its syndicated loan of AED 9.175 billion (USD 2.5 billion) one year ahead of schedule, at more favourable terms.
The refinancing transaction with First Abu Dhabi Bank PJSC (FAB) and Emirates NBD Capital Limited (ENBD) also includes an additional accordion option of AED 3 billion, and has a tenor of three years, maturing in March 2029.
Martin Aarup, AD Ports Group Chief Financial Officer, said: “This new refinancing agreement not only allows the Group to optimise our financing costs, but also gives us additional flexibility to proactively manage our debt profile, and puts us in a position to capitalise on more favourable market conditions as they emerge, taking advantage of potential future interest rate-cycle easings to refinance the Company’s capital needs at competitive rates, in line with our capital structure.”
The new facility maintains and extends the Group’s flexibility to optimally time its return to the debt capital markets in line with its stated strategy to utilise bonds as the predominant long-term funding vehicle. The new syndicated loan replaces a 2.5-year maturity medium-term facility that was arranged in September 2024.
