Al Ahli Bank of Kuwait secures landmark $1bln global syndicated term loan facility
Summary
KUWAIT CITY - Al Ahli Bank of Kuwait (ABK), through its DIFC Branch, has successfully closed a landmark USD 1 billion global syndicated term loan facility for a period of over 3 years, marking its largest debt facility to date. This positive response highlights the strong liquidity position and confidence that both regional and international lenders, including those from the Middle East, US, Europe, and Asia, have in ABK.We are immensely proud to have secured this significant facility, said Abdulla Al Sumait, Acting Group Chief Executive Officer at ABK. This strategic move positions ABK to better serve its clientele while supporting overall business development.The facility was led by a consortium of financial institutions including Commerzbank, Doha Bank, Emirates NBD Capital, ICBC, and SMBC, who acted as Bookrunners and Mandated Lead Arrangers. Emirates NBD Capital acted as Documentation Bank and Emirates NBD as Facility Agent.Al Sumait concluded, At ABK, we remain dedicated to our growth ambitions and are pleased to have the support of our esteemed financial partners in this endeavour. We are keen on the opportunities this funding will create for ABK as we continue to enhance our service offerings.Arab Times | \xa9 Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (Syndigate.info).