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 Capitals growth and new sector investment strategy.
The UKs: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.
Qatars Doha Bank will contribute as arranger.
Kuwaits Al-Ahli Bank, Frances BNP Paribas, Germanys Deutsche Bank, Malaysias Malayan Banking, Japans Nomura International, Frances 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 companys 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.
You might also like...
McDermott completes financial restructuring exercise
28 March 2024
Region heads for hotel boom
28 March 2024
Lowest bidders emerge for Kuwait housing project
28 March 2024
Redcon wins Red Sea Triple Bay infrastructure deal
28 March 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.