Mubadala Development Company (Mubadala) has announced financial close on a new US$2.5 billion 3-year corporate multi-currency revolving credit facility with 21 international financial institutions. Having received over US$4.0 billion in commitments, each lender was allocated approximately US$119 million.

Split into two tranches, the first tranche of US$2 billion will be used for general corporate purposes, while the second tranche of US$500 million will be earmarked to backstop refinancing of any issuances under Mubadala’s recently-established Euro Commercial Paper program. The margin on the facility is 75 basis points.

Derek Rozycki, Executive Director, Project & Corporate Finance, said, "We are pleased with the competitive pricing on our revolving credit facility, which reconfirms Mubadala’s ability to access the capital markets at the most competitive levels on par with our European peers." The 21 Mandated Lead Arranger banks are Bank of America N.A., The Bank of Tokyo-Mitsubishi UFJ Ltd, Barclays Capital, BNP Paribas, Citibank N.A. (UAE branch), Credit Agricole Corproate and Investment Bank, Credit Suisse AG (London branch), Deutsche Bank Luxembourg S.A., Goldman Sachs International, HSBC Bank PLC, Intesa SanPaolo (Dubai branch), JP Morgan PLC, Mediobanca - Banca Di Credito Finanziario S.P.A., Morgan Stanley Bank International Limited, Natixis (Dubai branch), Nomura International PLC, Banco Santander S.A. (London branch), Sumitomo Mitsui Banking Corporation, Societ G n rale Corproate ’&’ Investment Banking, Standard Chartered Bank and The Royal Bank of Scotland PLC.

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