The first Abu Dhabi Bank (in its capacity as a facilities agent, a major organiser, delegated, and an original lender) and other parties entered into a credit facilities agreement for a specific period that is not guaranteed, according to the Abu Dhabi National Distribution Petroleum Company, also known as Adenk Distribution.
In accordance with the agreement, lenders will give it a dollar period in the amount of $ 375 million and a specified dirham term in the amount of 4131. 6 million dirhams in order to assist.
According to the company’s disclosure of the stock exchange, this is for the purpose of re -financing its debt under the current facilities agreement dated November 12, 2017, and for general purposes of the company.
During its meeting, the company’s board of directors also agreed to a renewed credit facilities agreement that the company (as a borrower) with the Abu Dhabi National Petroleum Company «ADNOC) (as an original lender), according to which the lender will provide the company for a renewed credit facilitator in the dollar in the amount of $ 375 million and a renewed credit and a renewed credit and a renewed credit. 1377 dirhams from the United Arab Emirates.
2 million dirhams for the company’s general needs.
The company indicated that the completion of the financing operations under the facilities agreement for a specific term and the renewal of renewable facilities will be subject to the fulfillment of the necessary conditions..
ADNOC Distribution Board of Directors approves two credit facility agreements, according to the Abu Dhabi Stock Exchange.
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