UAE - Mubasher: Abu Dhabi Ports has been granted a $1 billion loan by nine banks, two sources told Reuters.

Citi, First Abu Dhabi Bank (FAB), HSBC, and Standard Chartered have been involved in the transaction for Abu Dhabi Ports, which holds and manages 11 ports and terminals in the UAE and Guinea, the sources referred.

One of the sources said that Abu Dhabi Ports would also issue bonds soon.

It is noteworthy to mention that on Sunday, 25 April, ZonesCorp, a subsidiary of Abu Dhabi Ports, has signed an agreement with Block 7 Investments, a joint venture between EFIRE Capital Holdings Limited of Abu Dhabi and Serba Dinamik Holdings Berhad of Malaysia, to develop the Block 7 Innovation Hub in the Industrial City of Abu Dhabi (ICAD).