Mubasher: The leading bank in Kuwait KIB has acted as a Mandated Lead Arranger and Structuring Advisor in a one-year revolving syndicated Murabaha facility for NMC Healthcare (NMC), one of the largest UAE healthcare providers in the region.
This Murabaha facility has been arranged along with another local bank and will be utilised for capital expenditure (CAPEX) and working capital requirements.
The Murabaha facility is valued at $80 million, according to a press release on Wednesday.
Mohamed Khadiri, KIB’s deputy general manager wholesale banking and had of international commented, “KIB’s participation in this syndicated facility is in line with the bank’s strategic vision to provide innovative Islamic financing solutions to key customers operating in strategic sectors across the region.”
He added, “This deal adds to KIB’s outstanding achievements and strong track record in providing leading Sharia-compliant financing and financial advisory solutions to the corporate sector.”
NMC Health was established in 1975 to be one of the leading private healthcare operators in the GCC with an international network of hospitals across 19 countries.
“In addition, NMC is also a leading UAE supplier of products and consumables across several key market segments, through its distribution division, with the major contribution coming from healthcare related products,” the press release concluded.