Mubadala, ADEC Complete PPP Non-recourse Financing

ABU DHABI - Mubadala Development Company (Mubadala) and the Abu Dhabi Education Council (ADEC) on Tuesday announced they have completed the non-recourse financing of the Paris-Sorbonne University Abu Dhabi public-private partnership (PPP) Project.

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By Staff Report

Published: Thu 25 Dec 2008, 1:01 AM

Last updated: Sun 5 Apr 2015, 11:28 AM

This deal marks the first time an Abu Dhabi Government-owned institution is being banked on long tenor on the strength and transparency of budgetary allocations.

A syndicate of international and regional banks is providing the $323 million debt package with a 20 year tenor to this PPP project.

The transaction successfully closed oversubscribed through mandated lead arrangers First Gulf Bank, Bank of Tokyo-Mitsubishi, BNP Paribas, Calyon, Royal Bank of Scotland and Sumitomo Mitsui Banking Corporation.

“Mubadala is pleased to be involved with a project that supports the Abu Dhabi Government’s initiatives regarding education,” said Khaldoon Al Mubarak, Chief Executive Officer of Mubadala.

“The success of this project will mark several critical milestones for Abu Dhabi, including positioning Abu Dhabi as a centre for educational and cultural excellence.”

Staff Report

Published: Thu 25 Dec 2008, 1:01 AM

Last updated: Sun 5 Apr 2015, 11:28 AM

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