Abu Dhabi's Aabar Signs $4.1 Billion Loan to Refinance Debt

Aabar Investments PJSC, the Abu Dhabi government-backed investor, signed a 3.6 billion-euro ($4.1 billion) loan to refinance debt.

The five-year senior unsecured, non-guaranteed facility was arranged on “tighter terms” compared with previous ones, the company said in an e-mailed statement, without providing further details. The facility will pay 180 basis points, including margin and fees, two people with knowledge of the deal, who asked not to be identified because information hasn’t been made public, told Bloomberg News earlier this month.

Bank of America Merrill Lynch, BNP Paribas SA, HSBC Holdings Plc, Intesa Sanpaolo SpA, JPMorgan Chase & Co., National Bank of Abu Dhabi PJSC, Natixis SA, Societe Generale SA and Sumitomo Mitsui Banking Corp. were lead arrangers and bookrunners. Aabar said a further limited syndication of the facility is also being arranged.

The company owned by International Petroleum Investment Co., which in turn is owned by the Abu Dhabi government, has $5.5 billion of outstanding debt, according to data compiled by Bloomberg. It holds stakes in companies including UniCredit SpA, RHB Capital Bhd and Arabtec Holding Co.

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