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Al khaliji and Majid Al Futtaim executives pose for photo after concluding the 1.14bn driham amortising term facility in Dubai |
“The transaction was oversubscribed and upsized due to the strong demand,” al khaliji said.
The transaction was concluded in Dubai at an event attended by senior representatives from the lending banks and the CEO and the senior management team at MAF Group.
The deal further strengthens the reputation of al khaliji’s Corporate & Institutional Banking Division after an outstanding year during which they participated in the $1.1bn financing deal for Abu Dhabi’s Emirates Steel Industries and a $255mn dual currency Murabaha Syndicated Facility for Turkey’s Bank Asya.
Al Khaliji said it remains committed to advising and arranging financial support for its customers within Qatar and the GCC (Gulf Cooperation Council) region as they grow their business.
“The Majid Al Futtaim Group is one of the pre-eminent businesses in the GCC and wider Middle East region” said Mohamed Abdelkhalek, head of Corporate & Institutional Banking at al Khaliji. “We are delighted to be able to support this transaction as a mandated lead arranger,” he said.
Abdelkhalek said, “As a wholesale-led bank based in Qatar, al Khaliji is committed to deepening its already strong relationships with existing customers and to fostering new relationships with corporate and institutional customers that fit within our defined target market.
“Al Khaliji’s support and participation for this high profile and highly successful transaction with the Majid Al Futtaim Group, one of the regions’ leading businesses, is in line with our wholesale led strategy and is part of our successful and ambitious growth plans.”
Source : http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=404959&version=1&template_id=48&parent_id=28 - Dec 17, 2010
