First Gulf Bank to boost project finance activities

03 December 2007

Abu Dhabi-based First Gulf Bank has signed a $825m syndicated loan to help fund the expansion of its project finance activities.

“The five-year club loan facility falls in line with our business strategy to participate in public sector sponsored projects, both locally and regionally,” said First Gulf’s chief executive officer Andre Sayegh.
Eleven banks have signed up to the loan.
The Bank of Tokyo-Mitsubishi is the agent bank on the transaction and Calyon is the documentation bank.

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