Oversubscribed facility focuses on growth opportunities & strategic expansion
Dubai, United Arab Emirates, November 14, 2017: Unatrac Holding Limited (“Unatrac”), the exclusive Caterpillar dealer in Ghana, Iraq, Kenya, Liberia, Nigeria, Russia, Sierra Leone, Tanzania and Uganda, announced today the successful completion of a $275m credit package comprising of a $225 million dollar five year revolving credit facility, with a $125m accordion option, and a $50 million dollar one year short term facility.
The facility, arranged by Barclays Bank PLC and J.P. Morgan Securities Plc who acted as Joint Global Coordinators, Bookrunners and Mandated Lead Arrangers, received significant interest resulting in the syndication closing oversubscribed.
The Mandated Lead Arrangers are
- Abu Dhabi Commercial Bank PJSC
- Caterpillar Financial Services (Dubai) Limited
- Commercial Bank of Dubai PSC
- First Abu Dhabi Bank PJSC
- The Standard Bank of South Africa Limited
Unatrac is one of the leading Caterpillar dealers globally, ranked consistently amongst the top 3 in Africa and the Middle East. The company has exclusive dealership rights in 9 countries across Africa, the Middle East and Russia, and an export sales office in the United Kingdom. Recently, the company was recognized as one of 12 Dealers globally out of total 172 for excellent performance, and one of only two in AME commended for its distinguished Centre of Excellence approach.
The transaction has been advised by Man Capital, the investment arm of the Mansour Group.
Unatrac is a 100% owned by the Mansour family, founders of one of the largest privately-owned conglomerates in the MEA region: the Mansour Group.