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18/08/2016 05:13 AST
Waha Capital has completed the refinancing of its credit facilities with 12 local, regional and international banks. The new and upsized financing is a 5-year $500 million revolving credit facility.
This replaces the previous $375 million revolving credit facility secured in 2014. The facility was positively received and achieved a significant oversubscription.
It was sole coordinated by First Gulf Bank, Abu Dhabi Commercial Bank acting as Book Runners and Mandated Lead Arrangers, Commercial Bank of Dubai committing as Lead Arranger, and Emirates NBD Bank, Union National Bank, National Bank of Fujairah, Doha Bank, Nomura International, HSBC Bank Middle East Limited, Commercial Bank International, Malayan Banking Berhad (Maybank) and GarantiBank International committing as Arrangers.
Salem Rashid Al Noaimi, CEO and Managing Director of Waha Capital, said, “Waha Capital has secured excellent terms for our new long-term credit facility.”
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