Abu Dhabi – Mubasher: Waha Capital has successfully refinanced its $400 million revolving credit facility with the support of four local and regional banks, according to a press release.
The new facility, which holds a three-year tenor, can be increased up to $500 million and can have the maturity date extended by up to two years.
The lender group comprises Abu Dhabi Commercial Bank (ADCB), Emirates Islamic Bank (EIB), Commercial Bank of Dubai (CBD), and Gulf International Bank (GIB).
Mohamed Hussain Al Nowais, Managing Director of Waha Capital, said: “Our solid financial health, strong track record, and resilient business performance have enabled us to refinance this facility on enhanced terms, reflecting the strength of our business strategy.”
“The new facility positions Waha Capital to invest in emerging growth opportunities over the coming years, providing us with the flexibility to swiftly capitalise on them as they arise,” Al Nowais highlighted.
He added: “In H1-24, Waha Capital demonstrated its resilience and growth, achieving AED 205 million in net profit attributable to shareholders, a 21% year-on-year increase.
“Strong performance in H1-24 across Waha Capital’s business segments, including fee income growth and mark-to-market gains, has positioned the company to leverage future opportunities and enhance shareholder value,” the official concluded.
