Abu Dhabi – Mubasher: National Bank of Fujairah (NBF) said Tuesday that NBF Capital Limited, wholly-owned subsidiary, has successfully raised AED 1 billion for Pacific Control Systems LLC.

NBF Capital acted as the exclusive financial advisor for the syndicated facility.

The deal was originally valued at AED 750 million but was oversubscribed by 33 %, receiving AED 1 billion in total commitments, according to the bank’s statement.

The syndicated loan was underwritten by NBF and Al Khalij Commercial Bank (al khaliji) that also served as mandated lead arrangers, with NBF also acting as global facility agent for the transaction.

The other participating banks in this transaction are: Al Khaliji France SA, Dubai Islamic Bank, United Arab Bank, National Bank of Oman, Ajman Bank and Sharjah Islamic Bank. Dubai Islamic Bank also served as the investment agent for the syndication, NBF said.