Abu Dhabi Ports Group has announced the signing of an agreement with First Abu Dhabi Bank and Emirates NBD Capital to refinance a syndicated loan amounting to 9.2 billion dirhams (approximately 2.5 billion dollars), ahead of its due date by one year and under more favorable conditions.
The group stated in a release that the agreement includes an additional financing option of 3 billion dirhams, with the extension of the maturity period to three years, concluding in March 2029.
It was mentioned that this refinancing agreement aims to lower financing costs and enhance financial flexibility, thereby supporting proactive debt management, making the most of favorable market conditions, and seizing upcoming opportunities in interest rate cycles to refinance capital requirements at competitive rates.
Furthermore, the new loan will replace medium-term credit facilities that were arranged in September 2024 for a duration of two and a half years, noting that this move aligns with its strategy to leverage bonds as a primary tool for long-term financing.