AD Ports refinances $2.5bn loan with two UAE banks

AD Ports Group is refinancing a loan of AED9.2 billion ($2.5 billion) almost 12 months before maturity, at more favourable terms.

The refinancing has been secured from First Abu Dhabi Bank and Emirates NBD, the listed ports operator said in a statement to the Abu Dhabi Securities Exchange (ADX).

The new three-year loan will mature in March 2029. The two lenders have also offered a top-up facility of AED3 billion. 

As well as cutting financing costs, the agreement gives AD Ports “additional flexibility to proactively manage debt”, said Martin Aarup, its chief financial officer.

The company could refinance again at competitive rates if interest rates are reduced, he said.

According to the company’s 2025 results, financing costs exceeded AED1 billion last year, marginally down on 2024.

Net profit rose 16 percent in 2025 to AED2.1 billion. Revenue increased 20 percent year on year to AED21 billion.

AD Ports has allocated AED2.5 billion to develop port infrastructure this year, with almost half earmarked for liquefied petroleum gas and liquefied natural gas storage terminals.

AD Ports is 75.42 percent owned by ADQ, a unit of Abu Dhabi sovereign fund L’imad.

On Wednesday its shares rose by 11 percent to close at AED4.30 on ADX. However the price is down 10 percent so far this year.

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