United Arab Emirates-based National Bank of Ras Al Khaimah PSC, known as RAKBANK, launched a debut three-year, $250 million syndicated term loan facility.

The facility, expected to close by mid-September, will be used for general corporate purposes.

Arab Banking Corporation BSC, First Abu Dhabi Bank PJSC and Standard Chartered Bank will serve as the initial mandated lead arrangers and book runners on the facility.