UAE’s Bank Of Sharjah Signs $200m Loan Refinancing

The proceeds will be used by the lender for general business purposes.

Abu Dhabi-listed Bank of Sharjah said on Thursday it had signed a $200 million two-year loan refinancing with a group of five local and international lenders, with proceeds to be used for general business purposes.

The deal replaces an existing facility which matured this month and was priced at 125 basis points over the relevant benchmark – a 25 basis point discount to the previous facility – a statement from the bank said.

Lenders providing the loan were National Bank of Abu Dhabi, Commercial Bank of Dubai, Commerzbank, First Gulf Bank and Wells Fargo.