Abu Dhabi – Mubasher: United Arab Bank (UAB), listed on the Abu Dhabi Securities (ADX), announced it has closed a $195 million two-year syndicated term loan facility.

The loan facility agreement was signed on 19 June 2019, UAB added in a bourse filing.

The ADX-listed lender will use the facility proceeds for corporate purposes.

It is worth noting that US-based credit rating agency Fitch Ratings affirmed UAB’s long-term issuer default rating (IDR) at 'BBB+' with a stable outlook.