IslamicFinance.de

Global law firm White & Case LLP has advised Abu Dhabi Islamic Bank (ADIB), as sole bookrunner and initial mandated lead arranger, and a group of other lenders on a US$420 million Islamic financing provided to Zakher Marine International Inc. The financing, which was two times oversubscribed, also included Abu Dhabi Commercial Bank, Al-Hilal Bank, MashreqBank, Ajman Bank, Arab Bank, National Bank of Fujairah and Noor Bank. The facility arranged by ADIB will fund Zakher Marine's new shipbuilding programme that includes 15 vessels and three self-elevating accommodation barges.

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.