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01/06/2010 00:00 AST
Abu Dhabi investment vehicle Aabar Investments may increase its recent $800 million loan with local and international lenders to $2 billion to refinance debt, bankers said on Tuesday.
Last month Aabar, the emirate's fastest growing investment vehicle which has stakes in Daimler and Virgin Galactic, entered into a $800 million, three-year loan agreement with lenders.
'Banks are working on upsizing the recent loan to $2 billion that could be used for paying maturing loans and probably investments,' a banker familiar with the matter told Reuters.
Another banker said the new loan will be finalised 'within weeks'. Both bankers asked not to be named as the deal is not yet finalised.
National Bank of Abu Dhabi was the lead arranger of the $800 million loan. Aabar's board will meet on June 3 to consider refinancing opportunities for existing debt, it said in a statement on Abu Dhabi's bourse, earlier on Tuesday.
The board will also consider new investment opportunities at its meeting, it said. Aabar's borrowings which are all-term loans stood at 15 billion dirhams ($4 billion) in December 2009.
In April, Aabar said it plans to issue convertible bonds worth 7.346 billion dirhams ($2 billion) to IPIC, which holds a 71 percent stake in Aabar.
Reuters
08/05/2016
Aabar Properties is committed to Abu Dhabi, even as it focuses on expansion in Dubai and other parts of the world specially in Morrocco and Jordan, Chief Executive Officer of Aabar Properties told Gu
Gulfnews
21/03/2016
Aabar Investments, an Abu Dhabi-based diversified investment company, has signed a ?3.6 billion ($4.056 billion) loan facility with a syndicate of global banks.
The five-year senior unsecu
Trade Arabia
12/09/2015
AABAR Investments PJS, the Abu Dhabi-based investment fund cannot be ruled out from the RM2.5bil rights issue being called by RHB Capital Bhd (RHB Cap).
Although it has not given its commi
The Star
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11/07/2025
Investcorp, a leading global alternative investment firm based in Bahrain, today (July 10) announced the completion of the sale of a majority stake in leading Italian cybersecurity provider HWG Sabab
Trade Arabia
10/07/2025
Doha Bank has been awarded 'Best Bank in Qatar' at the MEED MENA Banking Excellence - Corporate and Investment Awards 2025, recognising the lender's outstanding achievements in innovation, strategic
Gulf Times
10/07/2025
Air Arabia Abu Dhabi has announced the launch of a new service connecting Zayed International Airport and Sialkot International Airport in Pakistan.
Starting July 17, the new route will ope
Trade Arabia
10/07/2025
Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia, has been named "Best Bank in Saudi Arabia for 2025" by Euromoney, recognizing the bank's strong financial performance,
10/07/2025
Mekdam Holding Group has announced the completion of the patent registration procedures in the United States for its advanced centralized alarm monitoring system (CAMS).
In a statement publi
QNA
Financial Information Co.
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