Waha Capital refinances under a $750m loan

02 April 2014

A syndicate of banks are to provide a five-year line of credit

Abu Dhabi-based Waha Capital has secured a $750m five-year loan from a syndicate of 13 local and international banks, a filing on the Abu Dhabi Securities Exchange shows.

It will be issued as a term loan of $375m and as a revolving loan of the same amount. The financial deal follows a three-year loan of $505m secured by the investment company in 2011.

The funds are to support Waha Capital’s growth and new sector investment strategy.

The UK’s:HSBC, the local First Gulf Bank, and Emirates NBD Capital, also local, are the acting bookrunners and mandated lead arrangers.

The local Abu Dhabi Commercial Bank and the Commercial Bank of Dubai will contribute as lead arrangers.

Qatar’s Doha Bank will contribute as arranger.

Kuwait’s Al-Ahli Bank, France’s BNP Paribas, Germany’s Deutsche Bank, Malaysia’s Malayan Banking, Japan’s Nomura International, France’s Societe Generale and the local Union National Bank will contribute as lead managers.

In 2013, Waha Capital recorded a 43 per cent increase of net profit to $83.4m. The company’s asset value reached $1.42bn, up from $1.20bn in 2012. Waha Capital is active in real-estate, financial services and other principal investments including maritime, aviation and healthcare.

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