ADT announced a financing agreement with Abu Dhabi Commercial Bank (ADCB) for the development of Khalifa Port Container Terminal (KPCT). The AED 300 million agreement marks the first long-term finance solution for ADT, and extends ADCB's relationship with the terminal operator to support ADT's ambitious growth strategy and contribute to its local and global competitiveness.

ADCB˜s facilities will be utilized primarily for capital expenditure, corporate services, and the re-financing of an existing short-term bridge loan.

Martijn Van De Linde, CEO of Abu Dhabi Terminals, said: We are extremely pleased to sign this long-term agreement with ADCB, a key partner for Abu Dhabi Terminals' future growth strategy. KPCT has witnessed a 20% year-on-year increase in containers handled since its opening in December 2012. This important financial partnership with ADCB allows us to invest in the required expansion to support the economic growth of the UAE and at the same time provide our customers with fast and efficient services.

Ole Pugholm, CFO of Abu Dhabi Terminals, said: We are delighted to extend our excellent relationship with ADCB to finance the future development of KPCT. ADCB is amongst the leading banks in the region and we are confident that ADCB's best-in-class service offerings, solutions and competitive funding will help us deliver superior shipping and logistics services to our current and future customers.

Colin Fraser, Head of Wholesale Banking at ADCB said ADCB is committed to playing an integral role in the development of the UAE's critical infrastructure and is proud to be the key relationship bank for Abu Dhabi Terminals. This facility exemplifies the excellent, strategic engagement we have with ADT. We look forward to supporting the company in the future.