ADIB arranges $420m financing for Zakher Marine International

Abu Dhabi Islamic Bank (ADIB) has signed an agreement with Zakher Marine International Inc. to arrange a US $420 million (AED 1.55 billion) financing for its new ship-building program, including 15 vessels and 3 self-elevating accommodation barges through one of its group companies (QMS Holding Ltd.). ADIB was the Sole Book-runner and initial Mandated lead Arranger. The deal was 2 times oversubscribed by banks including ADCB, Al-Hilal Bank, MashreqBank, Ajman Bank, Arab Bank, National Bank of Fujairah and Noor Bank. ADIB established a Specialized Financing Unit in 2013, through which it has structured and arranged various syndicated facilities for shipping / offshore clients.