Global law firm Norton Rose Fulbright has advised Bank of America Merrill Lynch as Documentation Agent and Joint Coordinator and Emirates NBD Capital as Joint Coordinator, on a USD1.7 billion term loan facility for the Dubai based bank Emirates NBD PJSC.
The loan received strong support from the market with 19 banks participating in a deal that was substantially over-subscribed in what is likely to be one of the largest club facilities in the financial institutions sector in the Gulf region this year.
Bank of America Merrill Lynch and Emirates NBD Capital acted as Joint Coordinators.
Matthew Escritt, banking partner at Norton Rose Fulbright in Dubai commented:
“We are delighted to have been able to advise Bank of America Merrill Lynch and the bank syndicate on this important transaction for Emirates NBD. The strong backing from the club of regional and international banks underlines the continuing confidence in the UAE and Dubai in particular despite a challenging regional economy and the continuing impact of lower oil prices.”
The Norton Rose Fulbright team was led by Dubai-based partner Matthew Escritt, assisted by of counsel, Nicholas Robinson, and associate, David Tan.
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