Abu Dhabi-based investment management company Waha Capital has completed the refinancing of its revolving credit facility.
The three-year $500 million revolving credit facility replaces and upsizes the current facility of $400 million, Waha Capital said in a statement on Sunday.
Ahmed Khalifa Al Mehairi, CEO of Waha Capital, said the new three-year facility will allow the company to manage its short-term working capital effectively, enabling the company to further capitalise on future growth opportunities.
Waha Capital recorded a net profit of 154 million dirhams in Q2 2021, representing a 42 percent drop over the year-earlier quarter.
(Writing by Brinda Darasha; editing by Daniel Luiz)
This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021