UAE's Etihad Secures $1.3B Loan For National Railway

Law360, New York (February 26, 2013, 1:26 PM EST) -- Etihad Rail, the state-controlled developer and operator of the United Arab Emirates' $11 billion national railway, on Tuesday nailed down a $1.28 billion financing package to support the first stage of the project that will give a major boost to the nation's infrastructure.

The five-year loan will be provided jointly through a club deal between the National Bank of Abu Dhabi PJSC, the Bank of Tokyo-Mitsubishi UFJ, Abu Dhabi Commercial Bank and the Middle East unit of HSBC Holdings PLC. It was unclear how specifically the...
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