Bank ABC, HSBC and NBAD close a $200 million loan for Banco ABC Brasil
Banco ABC Brasil, a subsidiary of Bank ABC (incorporated as Arab Banking Corporation B.S.C.), has successfully closed a $200 million syndicated loan*.
The loan was signed on August 18 and was arranged by Bank ABC, HSBC Securities and the National Bank of Abu Dhabi PJSC.
The loan was initially launched for $150 million; however, due to significant oversubscription, Banco ABC Brasil decided to upsize the facility. With a tenor of two years, the loan will be used by Banco ABC Brasil for general corporate purposes.
Bank ABC, HSBC and NBAD also acted as the joint coordinators for the facility, with NBAD acting as the agent.
Banco ABC Brasil strategy
As a borrower, Banco ABC focuses on providing loans and structured products to midsized and large companies. Its strategy is based on growing the profitability per client in the corporate segment by increasing the cross-selling of products as well as growing the number of clients in the midsized business segment.
The main products Banco ABC Brasil offers are loans denominated in BRL and foreign currencies, trade finance, underwriting and structuring advisory services for capital markets transactions, BNDES on lending transactions, M&A transactions and treasury products.
Bank ABC, the controlling shareholder, operates across 17 countries and covers the MENA region, Europe, the Americas and Asia.
*A loan offered by a group of lenders (called a syndicate) who work together to provide funds for a single borrower.