Abu Dhabi's Waha Capital secures $500mln revolving credit facility

Upsized facility will add to working capital

  
Modern Skyscrapers in Abu Dhabi. Image used for illustrative purpose.

Modern Skyscrapers in Abu Dhabi. Image used for illustrative purpose.

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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.

Abu Dhabi Commercial Bank, First Abu Dhabi Bank, Commercial Bank of Dubai and Gulf International Bank acted as mandated lead arrangers and bookrunners.

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)

brinda.darasha@refinitiv.com

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