The syndicated facility has a tenor of 72 months and is the first of its kind for Universal Hospital, a multi-specialty hospital in Abu Dhabi. The deal will be used to bring together all of the hospitals current banking facilities under one common structure as well as fund an expansion into a new building adjacent to its current property.
NBF was the lead arranger for the transaction and led a group of participants that included United Arab Bank, Al Hilal Bank and Commercial Bank of Dubai.
Mr. P.B Das, Senior Executive officer of NBF Capital said that this transaction further demonstrates NBF Capitals capacity to support the increasingly sophisticated financial requirements of companies as they expand across the UAE and the Middle East. Since opening in May 2013, the firm, which offers bespoke financial advisory from loan syndication to corporate restructuring to companies in sectors as diverse as precious metals to manufacturing, has secured AED 2.1 billion worth of deals that are either closed or in the pipeline.
We are extremely pleased to be given the opportunity to spearhead Universal Hospitals maiden syndication within one year of the organisation commencing its operations. That we were able to attract such strong showing for the deal underscores not only the bright prospects for the UAE healthcare sector, but our confidence in Universal Hospitals potential to becoming a leader in its field, and I thank all the participating banks for their partnership and support.
This latest transaction further reaffirms our growing reputation as a bespoke financial advisory partner of choice in the UAE and we look forward to playing a greater role in the ambitions of businesses in the country and across the region.
Dr. Shabeer Nellikode, Founder of Universal Hospital, said: The successful conclusion of Universal Hospitals maiden syndication is the first step of our long-term plans to become a premier healthcare provider in the UAE. We now look forward to our expansion into Dubai and the Northern Emirates and hope to continue serving our customers and our stakeholders with larger and better projects in the future.