Abu Dhabi’s Universal Hospital has raised a AED260m ($70.8m) syndicated loan to partly support the expansion of the hospital’s infrastructure.

It is the first deal of its kind raised by the hospital. The transaction has a tenor of 72 months.

NBF Capital, a fully-owned subsidiary of National Bank of Fujairah (NBF) was the financial adviser and bookrunner on the transaction.

NBF was the lead manager of the deal and the syndication included three local banks; United Arab Bank, Al-Hilal Bank and Commercial Bank of Dubai.

Since NBF Capital opened in May 2013, the firm has secured AED2.1bn-worth of deals that have either been closed or are in the pipeline.

The loan is partly bringing together the hospital’s existing banking lines into one facility and will be used to finance the hospital’s expansion into a new building that is next to its current premises.

Universal Hospital was established in 2013 and is a multi-specialty facility with 350 beds based in Abu Dhabi.

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