| Kippreport.com

Abu Dhabi oil firm borrows $3 billion from Japan’s JIBC-WAM

November 3, 2010 12:00 by Reuters

Abu Dhabi National Oil Co. (ADNOC) signed a $3 billion loan deal with the Japan Bank of International Cooperation (JBIC), state news agency, WAM, reported on Wednesday.

The loan’s lead arranger is Tokyo-Mitsubishi UFJ Ltd, said the agency. The other arrangers are Mizuho Corporate Bank Ltd., Sumitomo Mitsui Banking Corporation , BNP Paribas-Tokyo and Citibank Japan.

The United Arab Emirates exported 40 percent of its 2.52 million barrels per day of crude oil to Japan in 2008, according U.S. Energy Information Administration.

The state-owned oil company also signed a memorandum of understanding with JBIC, WAM reported.

(Writing by Mahmoud Habboush; Editing by Alison Birrane)

Tags: Abu Dhabi oil firm, ADNOC $3 billion loan deal, Japan's JIBC, Japan's JIBC $3 billion loan, Japan's JIBC ADNOC