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KFH-Bahrain Plays a major role in arranging US$ 140 million facility for Mumtalakat Holding Company

27/07/2009 02:49:15 PM GMT   Comments ()     Add a comment     Print     E-mail
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July 2009 Kuwait Finance House - Bahrain (KFH-Bahrain) Kuwait Finance House - Bahrain (KFH-Bahrain) is pleased to have played a major role recently in successfully arranging a five year US$ 140 million syndicated Ijara facility for Bahrain Mumtalakat Holding Company Bahrain Mumtalakat Holding Company B.S.C. (c) - the investment arm of the Government of the Kingdom of Bahrain. The bank was the sole lead arranger and underwriter for the transaction acting alongside the Liquidity Management Centre Liquidity Management Centre ( LMC LMC ) who acted as Mandated Lead Arranger. Despite difficult market conditions, the transaction was extremely well received in the market and raised significant interest from regional and international institutional investors, and was oversubscribed at the close, demonstrating the strength of both KFH-Bahrain KFH-Bahrain and LMC LMC to arrange such transactions. Mr. Talal Al Zain, CEO of Mumtalakat Mumtalakat , praised KFH-Bahrain KFH-Bahrain and LMC LMC in closing this deal and said "I would like to thank both KFH-Bahrain KFH-Bahrain and LMC LMC for their world class capabilities, and we will be very happy to work again with them in the future". Mr. Abdulhakeem Alkhayyat, the Managing Director and CEO of KFH-Bahrain KFH-Bahrain said "Despite the global financial crisis and economic downturn, and the ensuing impact on the GCC region during the year, the bank's involvement in this financing once again underscores KFH-Bahrain KFH-Bahrain 's strength and ability to structure similar deals. This highly successful syndication attests to the strong endorsement of our brand, and the leading role KFH-Bahrain KFH-Bahrain is playing in supporting the growth of key economic sectors in the Kingdom and our commitment to provide world-class Shari'a compliant solutions for our customers". KFH-Bahrain KFH-Bahrain continues to offer financing to its clients, in light of the key role the banking sector is playing in funding vital development projects. Since inception, KFH-Bahrain KFH-Bahrain has forged enduring relationships with the Government, business sector and citizens of the Kingdom. The Bank remains committed either directly, or through our subsidiaries and associate companies. KFH-Bahrain KFH-Bahrain continues to support initiatives designed to improve the infrastructure, develop industrial projects, and provide quality affordable housing. KFH-Bahrain KFH-Bahrain looks forward to strengthening its partnership with the Government on future transactions". With a global presence spanning several continents, KFH is in a unique position among Islamic banks to service its clients' needs. This global presence and strength gives KFH the reach to successfully arrange and place large deals through its Debt Capital Market team here in Bahrain. KFH-Bahrain KFH-Bahrain assets reached $3.6 billion (as of 30 June 2009), with a $1.1 billion increase over the same period last year with a rate of 42%, while KFH Group assets reached $ 37.6 billion, with a $ 1.9 billion increase over the same period last year with a rate of increase of 5%. - Ends - About Kuwait Finance House - Bahrain Kuwait Finance House, Bahrain is a leading provider of Islamic commercial and investment banking services. Established in 2002 as a wholly owned subsidiary of Kuwait Finance House (Kuwait) -- an industry leader for more than 30 years -- KFH-Bahrain KFH-Bahrain specialises in developing and bringing to market the highest quality shari'a compliant banking and investment products and services.

© Press Release 2009 omar 1.1:zy

Source: AJP
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