June 29, 2019 / 8:07 AM / 24 days ago

Pakistan signs $375 million syndicated loan with UAE banks

DUBAI (Reuters) - Pakistan signed a $375 million syndicated loan with banks in the United Arab Emirates in June made up of conventional and Islamic banking tranches, the Pakistani government said on Saturday.

The tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said. 

Emirates NBD Capital Limited was global coordinator. The transaction was anchored and arranged by Commercial Bank of Dubai, Emirates NBD Bank, Noor Bank, Dubai Islamic Bank, Mashreqbank and Sharjah Islamic Bank.

Reporting by Saeed Azhar; Writing by Dahlia Nehme; Editing by Edmund Blair

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