National Bank of Fujairah Leads $100 Million Syndicated Financing Deal
The deal reinforces the bank’s position as a preferred financial partner for promising and pioneering industrial projects
The National Bank of Fujairah (NBF) has announced the successful arrangement and closure of a $100 million single-currency syndicated financing facility and letter of credit. The funding will support the construction of a clinker production unit for Pure Cement LLC, with a production capacity of 6,500 tons per day, along with an 8.5 MW waste heat recovery power plant.
The total project cost amounts to $135.97 million, with the financing contributing to the procurement of equipment and fixed assets, ensuring the project’s successful execution. NBF led the arrangement as the facility and security agent and spearheaded the financing in collaboration with Emirates NBD and RAKBANK, with each contributing $25 million.
Adnan Anwar, CEO of the National Bank of Fujairah, commented: “This deal reflects NBF’s ability to structure and execute complex syndicated financing transactions, driving business growth and industrial development. As a leading financial institution, we are committed to going beyond traditional banking roles by becoming strategic partners, offering tailored financial solutions for long-term success, and solidifying our reputation as a trusted financial partner across the region.”
To celebrate this significant achievement, NBF hosted an official signing ceremony at its headquarters, attended by representatives from Emirates NBD, RAKBANK, and key industry stakeholders. The event underscored NBF’s leadership in syndicated financing and reaffirmed its commitment to supporting economic growth and industrial expansion in the UAE.
