Waha Capital Lands New $400M Revolving Credit Facility For Future Growth

Waha Capital PJSC, an investment management firm listed in Abu Dhabi, has successfully refinanced its revolving credit facility. This was achieved with the support of four major local and regional banks. The new facility is a US$400 million revolving credit facility with a 3-year term.

The facility can be increased up to US$500 million and its maturity date can be extended by up to two years. This syndicated facility attracted strong interest and was secured on improved terms, reflecting lenders' confidence in Waha Capital and its robust relationships with partner banks.

The lender group includes Abu Dhabi Commercial Bank (ADCB), Emirates Islamic Bank (EIB), Commercial Bank of Dubai (CBD), and Gulf International Bank (GIB). Mohamed Hussain Al Nowais, Managing Director of Waha Capital, expressed gratitude for the banking partners' continued support.

Al Nowais stated, "Our solid financial health, strong track record, and resilient business performance have enabled us to refinance this facility on enhanced terms, reflecting the strength of our business strategy. The new facility positions Waha Capital to invest in emerging growth opportunities over the coming years, providing us with the flexibility to swiftly capitalise on them as they arise. I would also like to thank our banking partners for their continued support and confidence in our vision."

In the first half of 2024, Waha Capital demonstrated resilience and growth by achieving AED205 million in net profit attributable to shareholders. This marks a 21 percent increase compared to the previous year. The company's strong performance across various business segments contributed significantly to this growth.

Fee income growth and mark-to-market gains were notable contributors to Waha Capital's success in H1 2024. These achievements have positioned the company well to leverage future opportunities and enhance shareholder value.

The new credit facility will enable Waha Capital to invest in emerging growth opportunities over the coming years. This provides the company with the flexibility needed to capitalise on these opportunities swiftly as they arise.

The successful refinancing reflects lenders' confidence in Waha Capital's strategy and financial health. It also underscores the company's strong relationships with its partner banks.

This strategic move ensures that Waha Capital remains well-positioned for future growth and development. The company’s ability to secure improved terms for its credit facility highlights its robust financial standing and effective business strategy.

Waha Capital's achievements in H1 2024 demonstrate its capacity for sustained growth and resilience. These factors are crucial as it continues to explore new investment opportunities and enhance shareholder value.

The support from prominent banks such as ADCB, EIB, CBD, and GIB has been instrumental in securing this new credit facility. Their confidence in Waha Capital's vision is evident through their participation in this refinancing effort.

Overall, Waha Capital's successful refinancing of its revolving credit facility marks a significant milestone. It not only strengthens the company's financial position but also enhances its ability to pursue future growth opportunities effectively.

With inputs from WAM