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28-Feb-2016

Aabar closes in on near EUR4 billion financing

Abu Dhabi state fund Aabar Investments  is close to securing a loan worth almost EUR4 billion (USD4.4 billion) to refinance existing debts, three sources aware of the matter told Reuters on Thursday. The loan is due to run for five years and will replace a number of existing borrowings, including a USD2.5 billion facility which is due to mature in April, according to the sources who spoke on condition of anonymity as the information isn't public. Pricing on the deal is around 180 basis points over benchmark rates, according to one of the sources, with the other two sources stating that the borrowing rate was sub-200 bps. (Reuters)

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