Abu Dhabi – Mubasher: RAKBANK launched a three-year syndicated term loan facility worth $250 million, according to a statement.

The bank mandated Bank ABC, First Abu Dhabi Bank (FAB), and Standard Chartered Bank as initial mandated lead arrangers and bookrunners to arrange the facility.

The facility will be used for general corporate purposes.

Launched on 8 August, syndication is expected to close by mid-September 2017.

The bank has increased its focus on treasury, corporate, and institutional business.