A unit of Abu Dhabi's Senaat has secured a USD185 million loan from a consortium of Japanese and UAE banks. The loan will finance the manufacturing and sale of steel pipes for the oil and gas sector by Al Gharbia Pipe Company, which is 51% owned by Senaat. Japan Bank for International Cooperation provided USD111 million of the loan with Sumitomo Mitsui Banking Corporation, Mizuho Bank and National Bank of Abu Dhabi (NBAD.AD) lending the remainder. Senaat did not disclose the loan’s pricing, but it said that it represented one of the lowest financing costs it has achieved. (Reuters)