Waha Capital inks $505 million credit facility
Abu Dhabi, June 13, 2011
Abu Dhabi-based investment firm Waha Capital inked a deal for a $505 million credit facility and is "actively looking" to deploy the capital, it said on Monday.
The three-year term and revolving facility was signed with eleven local and international banks. Waha said the funds would go towards new and existing investments.
The firm, which is involved in real estate and leasing for the oil and aviation sectors, did not give further details.
In March, its chief financial officer said Waha is eyeing investments in the regional maritime sector in 2011.
Waha, which is 15 per cent-owned by the Abu Dhabi government, also plans to issue Dh500 million ($136.1 million) of convertible notes by the end of June.
The deal involved local banks like First Gulf Bank, Emirates NBD Bank, Union National Bank Abu Dhabi Commercial Bank and also international lenders like HSBC's Middle East unit, J.P. Morgan and Deutsche Bank. – Reuters