Abu Dhabi Ports Group signed an agreement today, Tuesday, to obtain credit facilities worth $2 billion from a consortium of 13 banks. The company noted that the facilities include a basket of currencies, divided into three tranches amounting to $620 million, €600 million, and AED 2.86 billion, totaling approximately $2 billion through forward contracts with a duration of two and a half years.
Mohammed Juma Al Shamisi, the Managing Director and CEO of Abu Dhabi Ports Group, stated that "our success in securing $2 billion in facilities reflects the profitability and stability of our operations, in addition to being an acknowledgment of the strong financial solvency of Abu Dhabi Ports Group and the confidence the banking sector has in our long-term financial performance."
It is worth noting that Abu Dhabi Ports Group is part of the holding company "ADQ," chaired by Sheikh Tahnoun bin Zayed Al Nahyan, the brother of the UAE President, who is also the National Security Advisor of the UAE.
