May 7, 2012, Dubai - The National Bank of Fujairah (NBF) announced that it has closed a Dhs265m syndicated loan for Pacific Control Systems (PCS). The Bank acted as the Mandated Lead Arranger, Bookrunner and Underwriter for the facility.
This is a debut syndicated financing facility for PCS, the leading global provider of ICT enabled services and converged engineering solutions for buildings and infrastructure projects. PCS will use the loan, co-financed by Lead Arrangers Bank of Baroda and Ajman Bank, for the development of a data and disaster recovery centre in Dubai. The centre, one of the largest in the region, will also provide cloud computing services.
NBF CEO Vince Cook said that the successful syndication is evidence of the Bank's position as partner-of-choice for companies venturing into the regional debt capital markets: "That we were entrusted with overseeing PCS's first multilateral deal reflects the customer's confidence in the Bank and our ability to utilise regional banking relationships to our clients' advantage. We are pleased to be able to support PCS in its future plans and would also gios ilvE ailela