Al Jaber Group

HSBC Among Banks Said to Agree $4 Billion Al Jaber Debt Deal

Abu Dhabi-based Al Jaber Group eached a deal with its five main lenders to restructure about $4 billion of debt. The company agreed on terms, including loan repayments over five years. The debt, which includes both conventional and Islamic facilities, will pay annual interest of between 300 basis points, or 3 percentage points, to 400 basis points over the London Interbank Offered Rate. The deal will result in no loan losses. National Bank of Abu Dhabi PJSC, Abu Dhabi Commercial Bank PJSC (ADCB), Royal Bank of Scotland Group Plc and Union National Bank PJSC make up the coordinating committee with HSBC negotiating the new terms on behalf of about 30 lenders.

UAE businesswomen look at opportunities in Islamic finance and halal food

United Arab Emirates (UAE)'s leading businesswomen are researching investment opportunities to work with Malaysians in two areas - Islamic finance and halal food.
According to Fatima Al Jaber, president of the Abu Dhabi Business Women Council and chief operating officer of Al Jaber Group, Islamic finance and halal food are the two mutual areas that Malaysia and UAE could work together. She added that UAE offered huge opportunities for Malaysians in many areas including leisure, hotel, sports, property, healthcare and education.

Al Jaber Group closes USD 400 mn dual-currency Ijara financing facility

Gulf News reported on 19 April about the USD 400 mn, 5-year dual currency syndicated Ijara facility for the UAE-based Al Jaber Group.

BNP Paribas, Dubai Islamic Bank (through its investment banking arm, Millennium Capital Limited) First Gulf Bank, and National Bank of Abu Dhabi served as the underwriters and bookrunners for the transaction, which has been priced in both US dollar and UAE dirham. The syndicate comprised 7 banks.

Obeid Al Jaber is the Chairman of Al Jaber Group.


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