Emirati Jiu-Jitsu stars win 23 medals, athletes grab 11 medals, and People of Determination excel with 14 medals
Waha Capital, a leading investment management company in Abu Dhabi, completed the refinancing of its revolving credit facility with the support of four local and regional banks. The 3-year $500 million revolving credit facility replaces and upsizes the current facility of $400 million.
Waha Capital recorded a net profit of Dh154 million in Q2 2021, representing a 39 per cent increase over the previous quarter and bringing net profit for H1 2021 to Dh265 million. This growth was largely driven by its public markets business, whose assets under management recently exceeded the significant $1.0 billion milestone.
The syndication of the facility was positively received with the lender group consisting of the following banks: Abu Dhabi Commercial Bank (acted as mandated lead arranger, bookrunner and structuring and coordinating bank); First Abu Dhabi Bank (acted as mandated lead arranger, bookrunner and structuring and coordinating bank); Commercial Bank of Dubai (acted as mandated lead arranger and bookrunner); and Gulf International Bank (acted as mandated lead arranger).
“Our robust financial performance, despite pandemic-induced market volatility, attracted positive interest from the lending community. This new credit facility represents their vote of confidence in our business today, which I am confident will help create and sustain further value for our shareholders,” said Ahmed Khalifa Al Mehairi, CEO of Waha Capital.
“This new 3-year facility will allow the company to manage its short-term working capital effectively, enabling the company to further capitalise on future growth opportunities, while giving it the increased bandwidth required to continue to steer the business in the right direction and ensure a highly efficient degree of liquidity management.” — business@khaleejtimes.com
Emirati Jiu-Jitsu stars win 23 medals, athletes grab 11 medals, and People of Determination excel with 14 medals
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