US$250 Million Club Loan Facility for Bank of Bahrain & Kuwait (BBK)

16 Jul 2023

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BBK has successfully closed a US$250 million 2-year Club Loan Facility on the 9th of July 2023. The facility, coordinated by Bank ABC will be used to fund the Bank’s strategic initiative in supporting the growth of its business lines and to refinance its 2021 facility.

The successful closing of the Facility is a testament of the Bank’s strong financial standing, and its overall growth strategy.

Al Ahli Bank of Kuwait K.S.C.P. (DIFC Branch) – regulated by DFSA, Arab Banking Corporation (B.S.C) (Bank ABC), Emirates NBD Capital Limited and First Abu Dhabi Bank P.J.S.C. acted as Initial Mandated Lead Arrangers and Bookrunners (IMLABs) and Mashreqbank PSC as Initial Mandated Lead Arranger (IMLA) on the facility whilst Emirates NBD Bank P.J.S.C. acted as Facility Agent.

Speaking at the signing ceremony, Dr. AbdulRahman Ali Saif, BBK’s Group Chief Executive, stated: “BBK is pleased with the successful signing of the US$250 million loan facility. The latter is largely meant to refinance BBK’s debut facility of US$150 million, which was signed in 2021. The larger size of the new facility reflects the Bank’s strong financial performance and market confidence in BBK’s performance and growth strategy; the Bank’s latest results actually reflect its strong liquidity position and financial performance, with a 33% year on year growth in the quarterly profits, to reach BHD 20.1 million for Q1 2023”.  Dr. Saif thanked the participating banks and stressed on the strong and sound relationship that the Bank maintains with its counterparts.

On the occasion, the banks expressed their delight with the successful closure of the transaction and wished BBK continued growth and prosperity in the future.

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