NBF Capital underscores corporate advisory capabilities with AED 260 million maiden syndication for Universal Hospital
Transaction to finance hospital’s expansion and bring its banking facilities under one common structure
National Bank of Fujairah (NBF) announced today that NBF Capital Limited has concluded an AED 260 million loan syndication on behalf of Universal Hospital. The corporate advisory firm, a fully-owned subsidiary of NBF and regulated by the Dubai Financial Services Authority, acted as the financial advisor and book runner for the transaction.
The syndicated facility has a tenor of 72 months and is the first of its kind for Universal Hospital, a multi-specialty hospital in Abu Dhabi. The deal will be used to bring together all of the hospital's current banking facilities under one common structure as well as fund an expansion into a new building adjacent to its current property.
NBF was the lead arranger for the transaction and led a group of participants that included United Arab Bank, Al Hilal Bank and Commercial Bank of Dubai.
Mr. P.B Das, Senior Executive officer of NBF Capital, said that this transaction further demonstrates NBF Capital's capacity to support the increasingly sophisticated financial requirements of companies as they expand across the UAE and the Middle East. Since opening in May 2013, the firm, which offers bespoke financial advisory from loan syndication to corporate restructuring to companies in sectors as diverse as precious metals to manufacturing, has secured AED 2.1 billion worth of deals that are either closed or in the pipeline.
"We are extremely pleased to be given the opportunity to spearhead Universal Hospital's maiden syndication within one year of the organisation commencing its operations. That we were able to attract such strong showing for the deal underscores not only the bright prospects for the UAE healthcare sector, but our confidence in Universal Hospital's potential to becoming a leader in its field, and I thank all the participating banks for their partnership and support.
"This latest transaction further reaffirms our growing reputation as a bespoke financial advisory partner of choice in the UAE and we look forward to playing a greater role in the ambitions of businesses in the country and across the region."
Dr. Shabeer Nellikode, Founder of Universal Hospital, said: "The successful conclusion of Universal Hospital's maiden syndication is the first step of our long-term plans to become a premier healthcare provider in the UAE. We now look forward to our expansion into Dubai and the Northern Emirates and hope to continue serving our customers and our stakeholders with larger and better projects in the future.
"We would like to thank NBF Capital and all the participating banks for their support, and look forward to their continued partnership in the coming years."
Established in 2013, Universal Hospital aims to be a leading healthcare service provider in the UAE. It currently occupies a 350-bed multi-specialty facility in Abu Dhabi complete with state-of-the-art medical equipment and a team of highly-trained and experienced multinational professionals.
About NBF Capital Limited
Established in May 2013, NBF Capital Limited ("NBF Capital") is a bespoke financial solutions provider specialising in consultancy and advisory services ranging from loan syndication, mergers and acquisitions, business formation to corporate restructuring. A fully-owned subsidiary of National Bank of Fujairah (NBF), an award-winning, full services corporate bank with a track record spanning over 30 years, NBF Capital is well-positioned to leverage the parent's client relationships, business expertise and local insights to help companies make the best of opportunities within the UAE and beyond.
NBF Capital operates out of the Dubai International Financial Centre. It is regulated by the Dubai Financial Services Authority.
About National Bank of Fujairah PJSC
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.
NBF's key shareholders include the Government of Fujairah, Easa Saleh Al Gurg Company LLC and Investment Corporation of Dubai. Rated Baa1 / Prime-2 by Moody's and BBB+ / A- 2 by Standard & Poor's, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol "NBF". It has a branch network of 15 across the UAE.