UAE's Waha Capital secures $500m rolling credit facility

Investment firm chief says in strong position to further diversify assets and income streams
UAE's Waha Capital secures $500m rolling credit facility
By Reuters
Wed 17 Aug 2016 02:27 PM

Abu Dhabi investment firm Waha Capital said on Wednesday it had secured a five-year, $500 million revolving credit facility from local and international banks.

The funds replace a previous $375 million revolving facility obtained in 2014, it said in the statement.

Salem Rashid Al Noaimi, CEO and managing director of Waha Capital, said: "Thanks to our prudent approach to financial management, the company is in a strong position to invest further to diversify our assets and income streams, including through our new asset management business."

First Gulf Bank was sole coordinator, with that bank and Abu Dhabi Commercial Bank acting as book runners and mandated lead arrangers. Commercial Bank of Dubai was lead arranger with Emirates NBD, Union National Bank, National Bank of Fujairah, Doha Bank, Nomura International, HSBC Bank Middle East, Commercial Bank International, Malayan Banking Bhd (Maybank) and Garanti Bank International serving as arrangers.

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