Contractor financing of $1.1bn signed for Abu Dhabi airport scheme
Financing for the Midfield Terminal at Abu Dhabi airport has been signed by a group of regional banks and the contractors on the project, Turkey’s TAV and Athens-based Consolidated Contractors Company (CCC).
The deal covers a AED4bn ($1.1bn) loan that will be split into four and seven-year tranches. The financing was led by Dubai’s Mashreq, with the local Al-Hilal Bank, First Gulf Bank and Union National Bank also involved in the deal.
Sources close to the transaction had confirmed to MEED that the financing was in place in August, but that a final signing of the loan was not expected until after Ramadan and the Eid holidays.