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FINANCIAL NEWS
Abu Dhabi’s Emirates Steel eyes USD1.3 b loan
23 Jan 2014
(MENAFN) Abu Dhabi”s Emirates Steel is seeking a USD1.3 billion loan from banks to refinance an existing facility and be able to buy assets, according to Arab News.
The company is looking for a lower interest rate environment, a tactic deployed by other UAE-based firms who have sought to replace expensive financing taken out during the global financial crisis.
One source aware of the transaction said: “The company (Emirates Steel) has strong cash flows and it can now switch from the high project-finance interest rate it secured earlier.”
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BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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