Ahli United Bank has announced the closure of an $84 million syndicated facility arranged for Bahrain Commercial Facilities Company (BCFC), a key player in the domestic financing and insurance market.
Ahli United Bank (AUB) and Bank of Bahrain and Kuwait (BBK) acted as both the mandated lead arranger and book runner for this transaction, financed equally by both banks.
The three parties convened in a special ceremony to mark the inking of the new deal.
“We come together to renew our commitment towards our long-time partners and demonstrate our readiness to be their financier of choice and a partner for their future expansion,” said Othman Hijazi, deputy group chief executive for corporate banking at Ahli United Bank.
“The successful closure of this facility is a testament to AUB’s syndication capabilities, having attracted a valuable partner like BBK to join hands in this transaction.”
Abdulla Bukhowa, chief executive at BCFC, said, “Due to BCFC’s resilient financial standing, strong market position, and the enduring partnerships we’ve forged over the years, we’ve managed to work with two major regional players on this refinancing which will be a catalyst for our future growth plans.
“The successful closure of this transaction is a natural outcome of BCFC’s underlying strengths, sound business model, talented management team, prudent risk management, and overall growth strategy. Thanks to both Ahli United Bank and BBK for their continuous support in order to realise the aspirations of our shareholders and clients alike.”
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