Abu Dhabi —Dentons has advised Mashreqbank PSC (Mashreq) and Abu Dhabi Commercial Bank (ADCB) as Joint Coordinators with Commercial Bank of Dubai (CBD) as a syndicate partner in connection with the successful closing of a landmark AED 3 billion syndicated real estate financing for The Private Department of Sheikh Mohamed Bin Khalid Al Nahyan LLC (PD). Further, ADCB also acted as Facility Agent and Security Agent on the transaction.
The 10-year facility will be used to refinance PD’s existing bank debt on enhanced terms, settle sukuk obligations and support general corporate purposes. The facility is secured by a high-quality portfolio of real estate assets across Abu Dhabi and Dubai, providing PD with long-term flexibility and reinforcing its balance sheet position.
This transaction, arranged by a consortium of leading local lenders, underscores PD’s commitment to broadening its banking relationships and reflects strong institutional confidence in PD’s financial strength and long-term vision.
Nathaniel Armstrong, Partner at Dentons, said: “We are delighted to have supported ADCB, Mashreq and CBD on this landmark transaction, which highlights the continued strength and sophistication of the UAE’s real estate and banking sectors. The successful closing of this facility demonstrates the confidence of the local banking community in PD’s robust portfolio and strategic vision. Dentons is proud to have played a role in delivering a structure that provides long-term flexibility and supports PD’s growth ambitions.”
The Dentons team was led by Banking and Finance partner and Abu Dhabi office managing partner Nathaniel Armstrong with assistance from senior associates Shaakir Daud and Ben Suthers and associate Rory Donaldson. Hedging support was provided by Dentons partner Matthew Sapte and associate Arun Bindra.