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Lifeline Hospital Receives AED 261 million long term syndication

UAEAn AED 261 million long term syndicated loan for Hospital Group () has been closed by the (). The Bank is the Initial Mandated Lead Arranger and Underwriter for the facility. This new loan will be used to finance Lifeline’s business expansion plans, which includes the construction of Burjeel Hospital, a tertiary care hospital in the emirate. Chief Executive Vince Cook mentioned that NBF is committed to leverage its strong syndication capabilities enhancing the regional economy by this loan.

He said “The healthcare sector plays an important role in ‘s development as a services hub, and we are pleased to partner Lifeline as it helps the industry grow from strength to strength. More significantly, this transaction is one of a steady pipeline of transactions that would see us maintain double-digit growth in our loan book and round off the year on a positive note. We would like to thank the participating banks for their support”.

Dr. Shamsheer V.P., Managing Director of Lifeline Group, said: “Since commencing operations in 2007, Lifeline has managed to establish itself as a key healthcare provider with three hospitals and other healthcare-related interests. Our growing ambitions were met with the help of an experienced and well-respected partner such as NBF, and we thank the Bank for facilitating this successful transaction.”

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