The facility will support the global energy technology leader’s expansion and operational growth.
Commercial Bank of Dubai (CBD) has partnered with Siemens Energy, a leader in energy technology, by providing an AED 550mn bilateral credit facility to Siemens Energy in the UAE.
This facility reinforces CBD’s commitment to supporting businesses with tailored financial solutions, enabling Siemens Energy to execute its expanding pipeline of projects and drive future growth.
This transaction represents a strategic advancement for CBD, solidifying its footprint in the energy sector by partnering with a globally recognized leader. In addition, this facility highlights CBD’s robust capabilities in structuring large-scale financial solutions, reinforcing its position as a preferred banking partner for multinational corporations and a key enabler of growth in the sector, according to a press release.
Partnership
“This partnership demonstrates our financial strength and ability to support leading global corporations in their growth ambitions while reinforcing our position as a trusted banking partner in the UAE,” commented Dr. Bernd van Linder, CEO, Commercial Bank of Dubai.
“This facility enhances our ability to navigate a dynamic industry and support the evolving energy landscape, particularly in the Middle East – one of the world’s fastest-growing energy markets,” remarked Robert McAnally, Head of Treasury and Corporate Finance, Siemens Energy.
The energy sector remains a critical pillar of economic growth in the UAE, and CBD’s collaboration with Siemens Energy reflects the Bank’s commitment to supporting key industries that drive progress and innovation.
