Abu Dhabi – Mubasher: Waha Capital, listed on the Abu Dhabi Securities Exchange (ADX), completed the refinancing of its revolving credit facility, backed by four local and regional banks. 

The investment management company said that the three-year $500 million revolving credit facility replaces the current facility of $400 million, according to a statement on Monday. 

The lenders include Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB) as mandated lead arrangers, book-runners, and structuring and coordinating banks for the facility, as well as Commercial Bank of Dubai as a mandated lead arranger and book-runner and Gulf International Bank as a mandated lead arranger. 

Ahmed Khalifa Al Mehairi, CEO of Waha Capital, said "the facility will allow the company to manage its short-term working capital effectively, enabling the company to further capitalise on future growth opportunities, while giving it the increased bandwidth required to continue to steer the business in the right direction and ensure a highly efficient degree of liquidity management."

During the first half (H1) of 2021, Waha Capital reported AED 264.48 million in net profits attributable to the owners, against net losses of AED 27.208 million in the same period of 2020.