BackNational Bank of Fujairah leads AED 261 million syndication facility on behalf of Lifeline Hospital Group
Debut facility will finance the medical group’s expansion plans and underscores Bank’s strong syndication capabilities and business pipeline
01 November 2011
1 November 2011: The National Bank of Fujairah (NBF) has
announced that it has closed a AED 261 million long term syndicated
loan for Lifeline Hospital Group (Lifeline). The Bank is the
Initial Mandated Lead Arranger and Underwriter for the
facility.
Lifeline, a leading healthcare provider in Abu Dhabi, will use
the loan to finance its business expansion plans, which include the
construction of Burjeel Hospital, a tertiary care hospital in the
emirate.
The NBF-led syndication was oversubscribed and sees First Gulf
Bank participating as Mandated Lead Arranger, with Ajman Bank and
United Arab Bank rounding up the group as Lead Arrangers. The
facility has received a positive response from banks and provided
Lifeline the flexibility of exercising a green shoe option.
Chief Executive Vince Cook said that the loan demonstrates NBF's
commitment in leveraging its strong syndication capabilities in
support of the regional economy: "The healthcare sector plays an
important role in UAE's development as a services hub, and we are
pleased to partner Lifeline as it helps the industry grow from
strength to strength.
"More significantly, this transaction is one of a steady
pipeline of transactions that would see us maintain double-digit
growth in our loan book and round off the year on a positive note.
We would like to thank the participating banks for their
support."
Dr. Shamsheer V.P., Managing Director of Lifeline Group, said:
"Since commencing operations in 2007, Lifeline has managed to
establish itself as a key healthcare provider with three hospitals
and other healthcare-related interests. Our growing ambitions were
met with the help of an experienced and well-respected partner such
as NBF, and we thank the Bank for facilitating this successful
transaction. We would also like to thank First Gulf Bank, Ajman
Bank and United Arab Bank for their contribution to the syndication
and their trust in our abilities."
About National Bank of Fujairah PSC:
Incorporated in 1982, National Bank of Fujairah PSC (NBF) is a
full services corporate bank with strong wholesale banking and
trade finance expertise. Leveraging its deep banking experience and
market insight within Fujairah and the UAE, NBF is well-positioned
to build lasting relationships with its clients and help them
achieve their business goals.
NBF's key shareholders include the Government of Fujairah, the
Government of Dubai and business pioneer and community leader H.E.
Sir Easa Saleh Al Gurg, KCVO, CBE. It is listed on the Abu Dhabi
Securities Exchange under the symbol "NBF" and has a branch network
of 13 across the UAE.
For further information, please contact:
Karl Ho, Snr. Corporate Communications Manager
Ho.yen@nbf.ae
04 5078351 / 055 5538645
Abda Fayyaz, Corporate Communications Officer
Abda.fayyaz@nbf.ae
04 5078 439 / 050 944 5353
Back