BBK has successfully closed their debut US$150 million 2-year Club Loan Facility. The Facility, which will be used for general funding purposes, was signed on 7th October 2021 and coordinated by Bank ABC.
Bank ABC, Emirates NBD Capital Limited and Mashreqbank PSC acted as the Initial Mandated Lead Arrangers and Bookrunners (IMLABs) on the facility whilst Emirates NBD Bank (P.J.S.C.) acted as Facility Agent.
The successful closing of the Facility reflects BBK's strong financial standing and the overall growth strategy adopted by the bank.
The IMLABs expressed their delight with the successful closure of the transaction and wished BBK continued growth and prosperity in the future.
Speaking at the signing ceremony, Dr. AbdulRahman Ali Saif, BBK's Group Chief Executive, stated that: "BBK is pleased with the successful signing of the debut US$150 million loan facility. This reflects the Bank's sound financial performance despite the impact of the Global Pandemic and the confidence of the market in BBK's performance and growth strategy. BBK's latest Q2 2021 results showed the Bank's strong liquidity position and performance, with a 14% year on year increase in the quarterly profits to BHD 13.8 million for Q2 2021.
The Loan facility reflects BBK's strategy to support the growth of its business lines. The facility also reflects the sound relationship that the Bank maintains with its key counterparts, which BBK would like to thank for arranging this deal.