close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

National Bank of Fujairah signs $235M club loan

NBF was expected to raise $250 mln; Funds for general business purposes - statement - Reuters

0

June 19, 2011 10:53 by



National Bank of Fujairah (NBF) on Sunday said it had signed a $235 million two- year club loan with a consortium of lenders.

The amount is less than the $250 million the lender expected to raise when it launched the loan in April, to refinance an existing facility maturing this month.

The funds are for NBF’s general business activities, a company statement said.
Emirates NBD , National Bank of Abu Dhabi, Wells Fargo, Commerzbank, HSBC, Standard Chartered and Lloyds TSB were all mandated lead arrangers on the deal.

Commerzbank was also the facility agent, NBF said.

Among NBF’s major shareholders are the governments of Fujairah and Dubai, both emirates within the UAE. NBF did not disclose the pricing for the transaction in its statement.

Although there is increasing lending activity again, financial institutions in the UAE are still struggling to attract bank lending which is still mainly reserved only for the top-tier quasi sovereign or highest rated credits.

Shares in NBF were flat at 0749 GMT, and are down 20 percent so far this year. (Reporting by Rachna Uppal; Editing by Dinesh Nair)



0

Tags: , , , ,

Leave a Comment