Waha Capital, an Abu Dhabi-listed investment management company, has successfully refinanced its revolving credit facility with the support of four prominent local and regional banks. 

 

The new facility is a $400 million revolving credit facility with a 3-year term, reported Wam. 

 

As per the deal, it can be increased up to $500 million and can have the maturity date extended by up to two years.

 

The syndicated facility was met with strong interest and secured on improved terms, reflecting the confidence lenders have in Waha Capital and the company’s strong relationships with partner banks. 

The lender group comprises Abu Dhabi Commercial Bank (ADCB), Emirates Islamic Bank (EIB), Commercial Bank of Dubai (CBD), and Gulf International Bank (GIB).

 

On the key finance deal, Managing Director Mohamed Hussain Al Nowais 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. I would also like to thank our banking partners for their continued support and confidence in our vision," he added.

 

In H1 2024, Waha Capital demonstrated its resilience and growth, achieving AED205 million in net profit attributable to shareholders, a 21 percent year-on-year increase. 

 

Strong performance in the first half of 2024 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.