Skip to content
Subscriber Only

HSBC Among Banks Said to Agree $4 Billion Al Jaber Debt Deal

Al Jaber Group, a family-owned industrial group in Abu Dhabi, reached a deal with creditors including HSBC Holdings Plc to restructure about $4 billion of debt, according to two people familiar with the matter.

The company agreed with its five main lenders on terms, including loan repayments over five years, according to the people, who asked not to be identified because the information is private. The debt, which includes both conventional and Islamic facilities, will pay annual interest of between 300 basis points, or 3 percentage points, to 400 basis points over the London Interbank Offered Rate, one of the people said.