UAE payment processing firm Network International has closed a USD350mn, six-year loan to finance the acquisition of Emerging Market Payments (EMP), a payments processing company with main operations in Africa and the Middle East. The dual-currency financing is split almost evenly between a conventional dollar tranche and a murabaha dirham tranche. Citigroup acted as sole underwriter and coordinator on the deal and was joined in syndication by around nine international banks. The bolt-on acquisition follows the 49% acquisition of Network International by sponsors Warburg Pincus and General Atlantic in December 2015 for USD275mn. Dubai's largest bank, Emirates NBD, owns the rest. (Reuters)