AD Ports Group has successfully refinanced and upsized its existing Revolving Credit Facility (RCF) from $1 billion to $2.125 billion, equivalent in AED and USD tranches. The new facility was oversubscribed 2.5 times with significant interest from local, regional, European, Asian, and international banks.
This optimises the group’s financing costs by improving interest margins and extending the maturity of the RCF from 2026 to 2028, with an option to extend further until 2030.
With the new RCF in place, AD Ports Group will broaden its banking pool from nine to 18 banks, enhancing its financial flexibility and access to a larger funding pool.
Martin Aarup, Group Chief Financial Officer, AD Ports Group, commented: “The overwhelming interest in our new RCF and the resulting oversubscription underscore the confidence that the banking community has in AD Ports Group’s robust financial health and strategic direction.
“This refinancing allows us to optimise our financing costs and strengthens our liquidity position to support our short- and medium-term growth objectives. Additionally, the extension of the revolving credit facility maturity to 2028, with the potential to extend until 2030, provides us with greater financial flexibility and thus better planning options.”
AD Ports Group recently announced its Q3 results, reporting record levels of revenue and profit of AED4.66 billion ($1.27 billion) and AED445 million ($121.2 million), respectively.
Operating five business clusters covering Ports, Economic Cities & Free Zones, Maritime & Shipping, Logistics, and Digital, the company is rated ‘AA-’ with a stable outlook by Fitch and A1 with a stable outlook by Moody’s Ratings. It operates 33 terminals, with a presence in over 50 countries.
AD Ports Group is rated “AA-” with a stable outlook by Fitch, in addition to A1 credit rating with a stable outlook from Moody’s Ratings (Moody’s).
Follow us on
