Latest news with #Mashreqbank
Zawya
22-07-2025
- Business
- Zawya
Africa Finance Corporation wins $255mln green loan backed by UAE banks
Africa Finance Corporation (AFC), the continent's leading infrastructure solutions provider, has secured an inaugural Sustainability-Linked Term Loan Facility, marking a significant milestone in the corporation's innovative funding strategy and deepening its financial ties with the UAE. The AED937.50 million ($255 million) facility reflects AFC's commitment to use financial innovation tools to optimise funding for transformative infrastructure, AFC said. The loan facility was anchored by a syndicate of prominent UAE-based financial institutions. Abu Dhabi Commercial Bank, Emirates NBD Capital Limited, First Abu Dhabi Bank, Mashreqbank, and the National Bank of Ras Al Khaimah acted as Initial Mandated Lead Arrangers and Bookrunners (IMLABs). Mashreqbank additionally served as Global Coordinator and Documentation Agent, while First Abu Dhabi Bank acted as Sustainability Coordinator and Emirates NBD Bank acted as the Facility Agent. Along with further expanding AFC's geographical funding base, the transaction aligns future borrowing costs with measurable environmental outcomes through predefined Sustainability Performance Targets (SPTs), AFC said. The structure allows AFC to benefit from reduced loan costs upon achieving key sustainability targets, signaling to investors and stakeholders the importance of environmental responsibility to its infrastructure investment mandate. 'This facility represents a key milestone in AFC's journey,' said Banji Fehintola, Executive Board Member & Head, Financial Services, AFC. 'By tapping the UAE Dirham market and embedding sustainability performance into our funding terms, we are not only diversifying our funding sources but also aligning our financing strategy with our mission to catalyse infrastructure-driven economic growth and industrial development across Africa. This transaction is a testament to the strength of our partnerships in the UAE and our continued commitment to sustainable infrastructure development across Africa.' This facility builds on AFC's strong momentum in diversified and sustainable capital raising. Following a record $1.16 billion syndicated loan in 2024, AFC debuted a $500 million hybrid capital issuance and a $400 million Murabaha facility in 2025. The corporation also expanded its climate finance instruments - having issued a CHF150 million Green Bond in 2020, and in 2024, pioneering Green Shares with a $30 million equity investment from the African Development Bank. These efforts complement AFC's strategic stake in Lekela Power, through Infinity, forming Africa's largest renewable energy platform with over 1 GW of clean power capacity, reaching 1.2 million homes and avoiding 7.9 million tonnes of CO₂ emissions annually. Distributed by APO Group on behalf of Africa Finance Corporation (AFC). - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
21-07-2025
- Business
- Zawya
Africa Finance Corporation secures inaugural AED937.5mln sustainability-linked loan backed by United Arab Emirates (UAE) Banks
DUBAI, United Arab Emirates / -- Africa Finance Corporation (AFC) ( the continent's leading infrastructure solutions provider, has secured an inaugural Sustainability-Linked Term Loan Facility, marking a significant milestone in the Corporation's innovative funding strategy and deepening its financial ties with the UAE. The AED 937.50 million (US$255 million) facility reflects AFC's commitment to use financial innovation tools to optimise funding for transformative infrastructure. Along with further expanding AFC's geographical funding base, the transaction aligns future borrowing costs with measurable environmental outcomes through predefined Sustainability Performance Targets (SPTs). The structure allows AFC to benefit from reduced loan costs upon achieving key sustainability targets, signaling to investors and stakeholders the importance of environmental responsibility to its infrastructure investment mandate. The loan facility was anchored by a syndicate of prominent UAE-based financial institutions. Abu Dhabi Commercial Bank PJSC, Emirates NBD Capital Limited, First Abu Dhabi Bank PJSC, Mashreqbank PSC, and the National Bank of Ras Al Khaimah (P.S.C.) acted as Initial Mandated Lead Arrangers and Bookrunners (IMLABs). Mashreqbank PSC additionally served as Global Coordinator and Documentation Agent, while First Abu Dhabi Bank PJSC acted as Sustainability Coordinator and Emirates NBD Bank (P.J.S.C.) acted as the Facility Agent. 'This facility represents a key milestone in AFC's journey,' said Banji Fehintola, Executive Board Member & Head, Financial Services, AFC. 'By tapping the UAE Dirham market and embedding sustainability performance into our funding terms, we are not only diversifying our funding sources but also aligning our financing strategy with our mission to catalyse infrastructure-driven economic growth and industrial development across Africa. This transaction is a testament to the strength of our partnerships in the UAE and our continued commitment to sustainable infrastructure development across Africa.' This facility builds on AFC's strong momentum in diversified and sustainable capital raising. Following a record US$1.16 billion syndicated loan in 2024, AFC debuted a US$500 million hybrid capital issuance and a US$400 million Murabaha facility in 2025. The Corporation also expanded its climate finance instruments - having issued a CHF150 million Green Bond in 2020, and in 2024, pioneering Green Shares with a US$30 million equity investment from the African Development Bank. These efforts complement AFC's strategic stake in Lekela Power, through Infinity, forming Africa's largest renewable energy platform with over 1 GW of clean power capacity, reaching 1.2 million homes and avoiding 7.9 million tonnes of CO₂ emissions annually. Distributed by APO Group on behalf of Africa Finance Corporation (AFC). About AFC: AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth. Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.
Zawya
21-07-2025
- Business
- Zawya
Africa Finance Corporation Secures Inaugural AED 937.5 Million Sustainability-Linked Loan Backed by United Arab Emirates (UAE) Banks
Africa Finance Corporation (AFC) ( the continent's leading infrastructure solutions provider, has secured an inaugural Sustainability-Linked Term Loan Facility, marking a significant milestone in the Corporation's innovative funding strategy and deepening its financial ties with the UAE. The AED 937.50 million (US$255 million) facility reflects AFC's commitment to use financial innovation tools to optimise funding for transformative infrastructure. Along with further expanding AFC's geographical funding base, the transaction aligns future borrowing costs with measurable environmental outcomes through predefined Sustainability Performance Targets (SPTs). The structure allows AFC to benefit from reduced loan costs upon achieving key sustainability targets, signaling to investors and stakeholders the importance of environmental responsibility to its infrastructure investment mandate. The loan facility was anchored by a syndicate of prominent UAE-based financial institutions. Abu Dhabi Commercial Bank PJSC, Emirates NBD Capital Limited, First Abu Dhabi Bank PJSC, Mashreqbank PSC, and the National Bank of Ras Al Khaimah (P.S.C.) acted as Initial Mandated Lead Arrangers and Bookrunners (IMLABs). Mashreqbank PSC additionally served as Global Coordinator and Documentation Agent, while First Abu Dhabi Bank PJSC acted as Sustainability Coordinator and Emirates NBD Bank (P.J.S.C.) acted as the Facility Agent. 'This facility represents a key milestone in AFC's journey,' said Banji Fehintola, Executive Board Member&Head, Financial Services, AFC. 'By tapping the UAE Dirham market and embedding sustainability performance into our funding terms, we are not only diversifying our funding sources but also aligning our financing strategy with our mission to catalyse infrastructure-driven economic growth and industrial development across Africa. This transaction is a testament to the strength of our partnerships in the UAE and our continued commitment to sustainable infrastructure development across Africa.' This facility builds on AFC's strong momentum in diversified and sustainable capital raising. Following a record US$1.16 billion syndicated loan in 2024, AFC debuted a US$500 million hybrid capital issuance and a US$400 million Murabaha facility in 2025. The Corporation also expanded its climate finance instruments - having issued a CHF150 million Green Bond in 2020, and in 2024, pioneering Green Shares with a US$30 million equity investment from the African Development Bank. These efforts complement AFC's strategic stake in Lekela Power, through Infinity, forming Africa's largest renewable energy platform with over 1 GW of clean power capacity, reaching 1.2 million homes and avoiding 7.9 million tonnes of CO₂ emissions annually. Distributed by APO Group on behalf of Africa Finance Corporation (AFC). Media Enquiries: Yewande Thorpe Communications Africa Finance Corporation Mobile: +234 1 279 9654 Email: About AFC: AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth. Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.
Arabian Post
17-05-2025
- Business
- Arabian Post
Qualcomm Unveils Abu Dhabi Hub for AI and IoT Innovation
Qualcomm Technologies has revealed plans to establish a global engineering centre in Abu Dhabi, marking a significant expansion of its research and development footprint. The new facility will concentrate on cutting-edge technologies such as artificial intelligence, the industrial internet of things, and advanced data centre solutions, positioning Abu Dhabi as a pivotal node within Qualcomm's worldwide network of engineering operations. This engineering centre is set to bolster Qualcomm's commitment to high-performance connectivity and energy-efficient computing technologies. By addressing escalating demand for intelligent and scalable technological solutions, the facility aims to support both local and international markets with innovations tailored to rapidly evolving industries. The Abu Dhabi centre will engage closely with regional and international partners, fostering collaborations that align with broader strategic initiatives within the United Arab Emirates. Its primary focus will span sectors critical to the nation's economic diversification goals, including energy, manufacturing, logistics, retail, and smart mobility. These areas reflect ongoing efforts to leverage technology for sustainable growth and competitive advantage in a transforming global landscape. Qualcomm's decision to base a major engineering hub in Abu Dhabi underscores the emirate's rising stature as a technology and innovation ecosystem. The move aligns with UAE government priorities to attract advanced technology companies, stimulate research and development, and nurture a knowledge-based economy. It also reflects an increasing global trend where leading tech firms establish centres outside traditional hubs, seeking proximity to emerging markets and diverse talent pools. The facility will support Qualcomm's portfolio development, including innovations in AI algorithms, machine learning applications for industrial automation, and connectivity frameworks essential for the future of smart infrastructure. With the industrial internet of things gaining momentum, Qualcomm's expertise in wireless communication standards is expected to drive transformative solutions across complex supply chains and manufacturing processes. See also Mashreqbank's $500m Bond Offering Signals Market Confidence Energy sector applications will be a significant part of the centre's remit. By integrating AI and IoT capabilities, the centre aims to enhance operational efficiency and sustainability, supporting smart grid technologies, predictive maintenance, and energy optimisation. Such advancements are particularly pertinent to the UAE's ambition to diversify its energy mix and improve resource management. Collaboration with local universities and research institutions will form an integral part of the centre's activities, facilitating knowledge transfer and skills development. Qualcomm's presence is expected to create opportunities for Emirati engineers and scientists, reinforcing workforce localisation policies and contributing to the country's broader human capital development agenda. The engineering centre complements Qualcomm's existing global hubs located in North America, Europe, and Asia, creating a more geographically distributed innovation network. This diversification helps mitigate supply chain risks and accelerates product development cycles by leveraging time zone differences and regional expertise. Industry experts highlight that Qualcomm's move signals increasing confidence in the Middle East as a viable destination for high-tech investment and innovation. The UAE's infrastructure, strategic location, and government support mechanisms provide a conducive environment for advanced technology companies seeking to expand their global footprint. The centre's establishment also resonates with ongoing trends in the technology sector where AI and IoT solutions are driving digital transformation across multiple industries. As demand for connected devices and intelligent automation grows, Qualcomm's enhanced engineering capabilities are expected to play a crucial role in shaping the future landscape of industrial and consumer technologies. The data centre solutions component of the hub will focus on developing technologies that address the growing need for efficient, scalable, and secure data management. These solutions are vital for handling the exponential increase in data generated by smart devices and connected systems, ensuring performance while minimising environmental impact. See also Saudi Energy Firm Expands US Ties with $500 Million Agreements Qualcomm's announcement reflects a strategic investment designed to harness regional strengths and global innovation trends simultaneously. By situating an engineering centre in Abu Dhabi, the company leverages the UAE's position as a regional business and technology hub, while advancing its leadership in wireless technologies and AI-driven applications. The move also illustrates a broader industry pattern of multinational corporations enhancing regional capabilities to better serve diverse markets and respond swiftly to technological shifts. As global competition intensifies, proximity to emerging markets and local innovation ecosystems is becoming increasingly important for sustained growth.
Zawya
14-05-2025
- Business
- Zawya
Mideast Stocks: Gulf stocks inch lower as surplus oil worries weigh
Most Gulf stocks on Wednesday inched lower as a fall in oil prices over worries of increasing supplies hurt sentiment and investors paused to reflect over the implications of the U.S.-China tariff truce on the economy. Oil prices - a catalyst for the Gulf's financial markets -fell on Wednesday, as traders watched for a potential jump in U.S. crude inventories. However, prices held near two-week highs as optimism after the U.S. and China agreed to temporarily lower their reciprocal tariffs lingered. Although the U.S.-China trade war seems to have paused, financial markets remain uneasy about the outlook. Meanwhile, Israel issued evacuation warnings on Wednesday for three seaports in Yemen after saying the Iran-aligned Houthis had fired a missile towards it while U.S. President Donald Trump was on a visit to three Gulf states. Saudi Arabia's benchmark stock index was down 0.19%. Saudi Telecom and Saudi Electricity Company were the top losers, both falling nearly 5% early on Wednesday. The losses were limited by a 8% surge in shares of Saudi Arabian Refineries Company. The refiner is on track to log its third straight session of gains. Dubai's main share index was flat, trading down 0.09% as a 2.5% gain in Mashreqbank was offset by a 2.7% fall in Amlak Finance. Abu Dhabi's benchmark index was unchanged while Qatar's benchmark stock index was down 0.01%.
