MANAMA: BBK has successfully closed its debut $150 million two-year Club Loan Facility.
The facility, which will be used for general funding purposes, was signed on October 7 and co-ordinated by Bank ABC.
Bank ABC, Emirates NBD Capital Limited and Mashreqbank PSC acted as the initial mandated lead arrangers and bookrunners on the facility whilst Emirates NBD Bank acted as facility agent.
The successful closing of the facility reflects BBK’s strong financial standing and the overall growth strategy adopted by the bank.
Speaking at the signing ceremony, BBK’s Group chief executive Dr AbdulRahman Ali Saif said: “BBK is pleased with the successful signing of the debut $150m loan facility.
“This reflects the bank’s sound financial performance despite the impact of the global pandemic and the confidence of the market in BBK’s performance and growth strategy,” he said.
“BBK’s latest results showed the bank’s strong liquidity position and performance, with a 14 per cent year on year increase in the quarterly profits to BD13.8m for Q2 2021.”
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