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    AGTHIA   AEA001901015

AGTHIA GROUP PJSC

(AGTHIA)
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Abu Dhabi Ports raises $1 billion loan, sources say

04/25/2021 | 07:50am EDT
FILE PHOTO: Containers are seen at Abu Dhabi's Khalifa Port after it was expanded in Abu Dhabi

DUBAI (Reuters) - Abu Dhabi Ports, which owns and operates 11 ports and terminals in the United Arab Emirates and Guinea, has secured a $1 billion loan with a group of banks, two sources said.

Nine banks provided the facility, with Citi and First Abu Dhabi Bank having lead roles in the transaction, the first source said on condition of anonymity.

The source added that HSBC and Standard Chartered were also involved in the loan for the company, which is owned by Abu Dhabi state holding company ADQ.

Abu Dhabi Ports, FAB, HSBC and Standard Chartered did not immediately respond to Reuters requests for comment. Citi declined to comment.

Issuers in the Gulf have been raising debt, seeking to benefit from low rates as the region emerges from an economic downturn caused by the COVID-19 pandemic and last year's oil price plunge.

Abu Dhabi Ports was also likely to issue bonds soon, the second said. Fitch Ratings and S&P Global Ratings both assigned the company an A+ credit rating on Thursday.

ADQ, which sovereign wealth fund tracker Global SWF said last month was worth $110 billion, has gained prominence in the past year as Abu Dhabi consolidated several government assets under its banner.

Another ADQ subsidiary, power utility TAQA, raised $1.5 billion in a bond deal last week. Food and beverages group Agthia, also owned by ADQ, mainly used bank debt to finance its acquisition of three quarters of Egypt's Ismailia Agricultural and Industrial Investment.

(Reporting by Yousef Saba; Editing by Edmund Blair)

By Yousef Saba


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ABU DHABI NATIONAL ENERGY COMPANY PJSC 0.78% 1.3 End-of-day quote.-9.72%
AGTHIA GROUP PJSC 1.30% 6.23 End-of-day quote.46.59%
FIRST ABU DHABI BANK P.J.S.C. 1.97% 16.58 End-of-day quote.28.53%
STANDARD CHARTERED PLC -1.10% 432 Delayed Quote.-7.28%
All news about AGTHIA GROUP PJSC
05/17Agthia Group PJSC completed the acquisition of 60% stake in Al-Nabil Food Ind..
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05/03Agthia Group PJSC Reports Earnings Results for the First Quarter Ended March ..
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04/25Abu Dhabi Ports raises $1 billion loan, sources say
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04/15AGTHIA GROUP PJSC : Ex-dividend day for final dividend
FA
04/08AGTHIA : Abu Dhabi's Agthia Gets Board Approval to Take 75% Stake in Egypt's Ism..
MT
04/07UAE's Agthia approves 75% acquisition of Egypt's Ismailia Agricultural
RE
04/07Agthia Group PJSC agreed to acquire 75% stake in Atyab in a transaction value..
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03/17Agthia Group PJSC Proposes Cash Dividend for the Year Ended December 31, 2020
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03/09Agthia Group PJSC Reports Earnings Results for the Full Year Ended December 3..
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02/23Agthia Seeks Acquisitions
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More news
Financials
Sales 2021 3 297 M 898 M 898 M
Net income 2021 268 M 72,9 M 72,9 M
Net cash 2021 147 M 40,1 M 40,1 M
P/E ratio 2021 18,4x
Yield 2021 2,53%
Capitalization 4 486 M 1 221 M 1 221 M
EV / Sales 2021 1,32x
EV / Sales 2022 1,17x
Nbr of Employees 167
Free-Float 53,8%
Chart AGTHIA GROUP PJSC
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Agthia Group PJSC Technical Analysis Chart | AGTHIA | AEA001901015 | MarketScreener
Technical analysis trends AGTHIA GROUP PJSC
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 6,23 AED
Average target price 6,84 AED
Spread / Average Target 9,74%
EPS Revisions
Managers and Directors
Alan Smith Chief Executive Officer
Ammar Mohammad Ahmed Al Ghoul Chief Financial Officer
Khalifah Sultan Hazeem Al-Suwaidi Chairman
Rabih Kamleh Senior Vice President-R& D, Quality Assurance
Khamis M. Khamis Buharoon Al-Shamsi Independent Non-Executive Director
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