CFH Group, in its capacity as financial advisors to Rakeen Real Estate in Ras Al Khaimah UAE, has announced the successful completion in arranging a medium-term loan syndication amounting $250 million to Rakeen. Credit Suisse bank acted in the capacity of a lead manager along with other participating local and international banks.
Mr. John Bernson, the Executive Manager of Rakeen, commented on the market's confidence and the soundness in the credit standing of the UAE government in general and Ras El Khaimah in particular. Mr. Bernson stressed on the promising future for Rakeen's investments and development projects in the Middle East, Central Asia and Africa.
Mr. Fawzi E. Farah, the CEO of CFH Group, commented on the role of CFH in providing financial advisory services to include mergers and acquisitions, arranging debt-financing services, raising capital and refinancing/restructuring of long-term loans. Also, Mr. Farah believes that "as global financial crises recede, we see a noticeable improvement in the liquidity among the banks operating in the region. This in my opinion should provide ample opportunities for institutions seeking fresh financing and/or opportunities to restructure existing debt.
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© Press Release 2011
