The plant will address the rising demand for high-quality fertilisers
business1 day ago
Investcorp Capital recently raised $800 million in a four-year syndicated revolving credit facility. The transaction garnered significant interest from the market, and this enthusiastic response prompted Investcorp to upscale the facility to $800 million from the initial $600 million.
Bank of Sharjah, acted as a mandated lead arranger for Investcorp Capital, alongside other international and regional banks for the transaction.
Mohamed Khadiri, CEO of Bank of Sharjah, said: “This strategic collaboration underscores Bank of Sharjah’s role in facilitating major financing transactions and supporting the growth ambitions of its clients. The substantial oversubscription of the facility clearly reflects Investcorp’s robust business fundamentals and credit appetite”.
Abbas Rizvi, chief financial officer of Investcorp Capital, added: “We’re delighted to welcome our new business partners to Investcorp Capital. Our Capital Financing Services business achieved 47% y-o-y growth and, with this successful refinancing at competitive terms, we are well-positioned to grow our business and to deliver solid returns to our stakeholders.”
Khadiri further said: “The success of this syndication is strategically important for Investcorp. While the Group has successfully accessed the syndicated loan markets in the past, this facility marks a significant milestone for Investcorp Capital, a newly established subsidiary based out of Abu Dhabi Global Market. The participation of 22 banks underscores the global reach and credibility of the Investcorp Group.
Khadiri stated: “We are delighted to have Investcorp as one of our international customers, marking the beginning of a long-standing and mutually beneficial partnership. This transaction adds to Bank of Sharjah’s impressive track record of providing financing services and advisory to major institutions locally and across the region. We remain committed to pursuing our strategic objectives, aiming to strengthen our position as a premier banking institution in the Emirate of Sharjah and the UAE, while meeting the evolving needs of our valued customers.”
The plant will address the rising demand for high-quality fertilisers
business1 day ago
The UAE is robustly moving towards the digitalisation of payments
business1 day ago
The UAE and India forging stronger bonds
business1 day ago
Summit brings together more than 8,000 industry leaders from over 100 countries
business1 day ago
Dubai FinTech Summit kicked off on Monday with over 200 exhibitors
business1 day ago
Country is showcasing its attractions at ATM
business1 day ago
District cooling firm announces Dh425 million dividend
business1 day ago
Abu Dhabi conglomerate’s net profit surges 87.6% to Dh8 billion in Q1 2024
business1 day ago