National Bank of Abu Dhabi (NBAD) said on Saturday it would help arrange a Dh450 million ($122.5 million) syndicated term loan facility for Al Farida Investments Company to finance its expansion plans.

NBAD, Abu Dhabi Investment Co and Union National Bank will commit Dh150 million each, with NBAD acting as arranger, co-ordinator and facility and security agent of the transaction, the lender said in a statement.

Al Farida Investments develops commercial and residential properties and tourism projects, and works in securities, brokerage and engineering services, according to the statement.-Reuters