Abu Dhabi’s Emirates Motor Company closes $175m debut loan

Abu Dhabi-based Emirates Motor Company, the authorised distributor for Mercedes-Benz in Abu Dhabi and Al Ain, has closed a debut $175m syndicated dual tranche loan deal, the arranger of the facility said on Monday.

Noor Bank was the initial lead arranger for the syndicated structured facility and was joined by Al Khalij Commercial Bank, ABC Islamic Bank and National Bank of Oman in the loan deal, Noor Bank said in a press statement.

The tenure and other details of the facility were not disclosed.