Warba Bank’s stake in Alafco loan hits $80m

Warba Bank’s stake in Alafco loan hits $80m
The bank said it has participated with other banks and acted a lead arranger and subscription manager for the three-year deal
WARBABANK WARBABANK 0.00% 254.00 0.00
ALAFCO ALAFCO 0.00% 369.00 1.00

Kuwait - Mubasher: Warba Bank has announced taking part in a $300 million (KWD 91.4 million) mutual-financing deal with Aviation Lease and Finance Company (Alafco). 

Warba Bank’s share of the financing deal amounts to $80 million (KWD 24.4 million), a statement to Boursa Kuwait showed Wednesday.

The bank said it has participated with other banks and acted a lead arranger and subscription manager for the three-year deal.

Leasing firm Alafco signed a $300 million three-year murabaha-based collective financing agreement to cover a portion of the required funds for purchasing a new aircraft fleet contracted in 2011, as per an earlier statement on Tuesday.

Warba Bank’s stock closed Wednesday stable at 263 fils after 369,320 shares were traded at KWD 97,130.

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Source: Mubasher

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