The Emirates Global Aluminium (EGA) has successfully finalized a multi-tranche loan agreement totaling $5 billion. This arrangement aims to support the company’s strategic initiatives by enhancing liquidity and providing greater financial flexibility to execute long-term plans, as well as strengthening the balance sheet and improving the debt maturity profile.
The financing package includes a mix of traditional loans and Sharia-compliant facilities, coordinated with a consortium of 21 leading regional and international institutions. It features term loans and revolving credit facilities with maturities of up to five years. The funding attracted significant interest from financial institutions across the Middle East, Europe, Asia, and North America, with demand exceeding the amount available.
Confidence
Abdul Naser bin Kalban, CEO of EGA, stated: “We continue to focus on delivering long-term value for our shareholders by enhancing the efficiency of our capital structure. Securing this financing demonstrates the confidence of international banking institutions in our creditworthiness, operational excellence, and long-term sustainable growth strategy.”
The company plans to utilize the proceeds from this facility to refinance existing debt and support its strategic initiatives.