Dubai - Mubasher: National Central Cooling Company (Tabreed) has secured AED 1.80 billion in new bank debt to fund its strategic growth initiatives and optimize its capital structure.

The financing will support Tabreed’s growth, investments, and diversification of funding, according to a press release.

Backed by Emirates NBD and Mashreq, the Shariah-compliant facility holds a tenor of six years.

It is structured as a dual-tranche loan in both UAE dirhams and US dollars, with AED 1 billion allocated as green financing to support sustainability initiatives.

Khalid Al Marzooqi, CEO of Tabreed, commented: “This successful financing is testament to the strength of our business model and the trust we have built with our banking partners.”

For his part, Adel Al Wahedi, Tabreed’s Chief Financial Officer, added: “By integrating Islamic finance principles into our funding mix, we are able to access a broader pool of liquidity while maintaining our investment-grade credit profile.”

Earlier this month, Tabreed, together with CVC DIF, completed the acquisition of PAL Cooling Holding from Multiply Group in exchange for AED 3.87 billion.