Abu Dhabi investment company Aabar is waiting for responses from banks on the syndication of its $2bn loan, currently underwritten by four banks.

The deal was launched on 1 July and bankers close to the deal say that banks are due to respond to the deal before the end of the month. Pricing on the loan is 150 basis points above the London interbank offered rate (Libor) with additional fees of 125 basis points.

The deal is underwritten by National Bank of Abu Dhabi (NBAD), Germany’s Deutsche Bank, the US’ Morgan Stanley and Royal Bank of Scotland (RBS). Credit Suisse and the UAE’s Union National Bank (UNB) have already joined the deal.

The $2bn loan will be split between a $1.4bn tranche and a $600m revolving credit facility. The loan will have a tenor of three years and the company is understood to want to complete the deal before Ramadan begins in mid-August.