Al Ahli Bank of Kuwait K.S.C.P (ABK), acting through its ABK DIFC branch which is regulated by Dubai Financial Services Authority, announced that it has successfully closed a 37-month USD 600 million Asian syndicated term loan facility. This inaugural transaction will register ABK with the largest facility, by volume, from a Kuwaiti borrower targeting the Asian market to date.

The facility has been designed to support ABK’s group liquidity requirements and further fuel growth plans noting the 37-month tenor with a 12-month extension option and will be used for general corporate purposes.

ABK conducted a well-attended Asian Roadshow to showcase the facility, including Bank meetings in Hong Kong, Tokyo and Taipei. The deal was well received in the Asian markets and, on the back of excessive demand, was upsized to USD 600 million from the initial launch target of USD 500 million. The landmark financing closed with a total of 11 Asian lenders.

Industrial and Commercial Bank of China Limited, Dubai (DIFC) Branch, Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation, DIFC branch acted as Joint Coordinators, Initial Mandated Lead Arrangers and Bookrunners for the transaction.

The Korea Development Bank, State Bank of India, DIFC Branch and Agricultural Bank of China (DIFC Branch) joined as Mandated Lead Arrangers, Bank of Baroda, Dubai Branch as Arranger and The Gunma Bank, Ltd., Hua Nan Commercial Bank, Ltd., Offshore Banking Branch, Land Bank of Taiwan Co., Ltd. (Incorporated in Taiwan), Hong Kong Branch, and Industrial Bank of Korea, Hong Kong Branch joined as Arrangers.

“This successful transaction is a testament to ABK's strong leadership, its robust fundamentals, and its vision of expanding its footprint beyond Kuwait. This facility will help us achieve our funding goals while facilitating growth in our core operations. We are pleased to have been able to execute this mandate with the utmost efficiency and professionalism, working in close collaboration with our Joint Coordinators, Initial Mandated Lead Arrangers, and Bookrunners,” said Abdulla Al Sumait, Acting Group CEO at ABK.

“This transaction marks an important milestone for ABK. We are proud of this achievement, which confirms our commitment to diversifying our sources of funding and strengthening our presence in the Asian market,” said Noura Alduweesh, GM of Treasury and Investment at ABK.

“ABK DIFC is proud to further solidify its position as the key international funding hub for the wider Group. This successful outcome is a true testament to ABK’s solid foundations and underpins the continued confidence ABK enjoys across all markets,” said Rami El Rifai, General Manager & Senior Executive Officer at ABK DIFC.

About Al Ahli Bank of Kuwait 

Since its foundation in 1967, ABK has progressed to be one of the leading Kuwaiti banks in the region, providing a wide range of financial and banking services and products across all its markets in Kuwait, Egypt and the United Arab Emirates. In its home market of Kuwait, ABK has 29 centrally located branches, 44 branches in Egypt, and two full-service branches located in Abu Dhabi and Dubai, United Arab Emirates.

In addition to its retail operations, the Bank also has a highly successful commercial side. Its Corporate Banking Division focuses on financing for the construction, real estate and trade sectors, providing loans, letters of credit and guarantees, and financing services, while the Treasury and Investments Division provides effective foreign exchange and interest rate services and advice for the Kuwait, Gulf and international markets.

Through its subsidiary, ABK Capital, the Bank provides a wide range of financial services, such as asset management, portfolio management, wealth management, investment banking, custody and consultative services. ABK Capital manages high performance funds including Al Ahli Kuwaiti Fund and Al Ahli Gulf Fund. These two funds have achieved high yields through securities investment in Kuwait and GCC countries.

The Bank continues to enjoy strong credit agency ratings of A2 from Moody’s and A from Fitch.