Bahrain - BBK, a leader in retail and corporate banking in Bahrain, has successfully closed a $500 million three-year club loan facility, coordinated by the Arab Banking Corporation (Bank ABC).

The facility will be used to fund BBK’s strategic initiatives, support the growth of its business lines, and refinance its 2023 facility. In line with BBK’s sustainability goals and its efforts to diversify its funding sources, the bank has structured the facility to include an option to convert the financing into a sustainability-linked loan.

Bank ABC, DenizBank AG, Emirates NBD Capital Limited, First Abu Dhabi Bank, Gulf International Bank, and Standard Chartered Bank acted as Initial Mandated Lead Arrangers and Bookrunners (IMLABs) and Bank Muscat and Mashreqbank PSC as Initial Mandated Lead Arrangers (IMLAs) and Emirates NBD Bank (PJSC) acted as facility agent.

On the occasion, Yaser Alsharifi, BBK’s group chief executive, stated: “The successful closing of this facility underscores BBK’s robust financial standing and commitment to sustainable growth.”

He noted that this is a major milestone considering the size of the facility, which doubled when compared to the $250m facility closed in 2023, with an extended three-year tenor when compared to the previous two-year tenor. Mr Alsharifi further expressed his gratitude to the participating banks and highlighted the strong relationship BBK maintains with its counterparts. He further emphasised that the larger size of the new facility reflects the bank’s strong financial performance and market confidence in BBK’s growth strategy.

The participating banks also expressed their satisfaction with the successful closure of the transaction and wished BBK continued growth and prosperity.

The facility is a testament to BBK’s strategic vision and its ability to attract significant investment to support its long-term objectives.

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