Emirates NBD, the UAE's largest bank by assets, raised $410 million (Dh1.5 billion) through a multi-currency loan structured around its portfolio of syndicated loans to corporates, the bank said in a statement on Monday.
The loan, priced at a margin of 1.75 per cent above the applicable reference rates, was fully subscribed by JP Morgan.
"This successful transaction is a testament to the market's confidence in Emirates NBD as a premier financial institution in the Middle East, with an established track record, solid fundamentals and excellent future prospects," Emirates NBD chief executive Rick Pudner said in a the statement.
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