DUBAI, Dec 26 (Reuters) - Sharjah-based United Arab Bank
has secured a club loan worth $125 million for general
corporate purposes, a company statement said on Wednesday.
The two-year facility, which can be extended to three years,
was signed at a margin of 150 basis points over the London
interbank offered rate (Libor).
The loan was coordinated by Commerzbank, which
also acted as lead arranger along with Standard Chartered Plc
, Commercial Bank of Qatar, National Bank of
Abu Dhabi and Emirates NBD.
UAB was set up in 1975 as a joint venture between UAE
investors and Societe Generale and it currently
operates 20 branches and offices across the country.
(Reporting by Rachna Uppal; Editing by Praveen Menon)