ABU DHABI: AD Ports Group has successfully refinanced and increased its existing Revolving Credit Facility (RCF) from $1 billion to $2.125 billion (about Rs18,000 crore), incorporating tranches in both AED and US dollar.
The move aims to enhance financing efficiency by securing better interest margins and extending the facility’s maturity from 2026 to 2028, with a provision for further extension until 2030.
The refinancing attracted significant interest from local, regional, European, Asian, and international banks, resulting in oversubscription exceeding 2.5 times the facility amount. This has enabled AD Ports Group to expand its banking network from nine to 18 institutions, bolstering its financial flexibility and access to a larger funding base.
Martin Aarup, Group Chief Financial Officer (CFO) of AD Ports Group, highlighted the importance of the development, stating, “The strong interest and oversubscription for our new RCF reflect the banking community’s confidence in AD Ports Group’s solid financial standing and strategic vision.
This refinancing optimises our financing costs and strengthens our liquidity to support short- and medium-term growth plans. “Moreover, extending the maturity of the facility to 2028, with a potential extension to 2030, enhances our financial flexibility and allows for improved planning capabilities,” Aarup added.
AD Ports Group holds robust credit ratings, with an “AA-” and stable outlook from Fitch and an A1 stable outlook from Moody’s Ratings.
