Manama, Bahrain: London-based ABC International Bank has completed a new $90 million committed trade financing facility for Jaguar Land Rover, supporting their exports into the MENA (Middle East and North Africa) region and further strengthening the relationship between the two partners.
Ken Gregor, Jaguar Land Rover CFO, said: "The new facility complements existing trade financing facilities ABC International Bank has provided to Jaguar Land Rover for several years which support the company’s significant export business."
Paul Jennings, Global Head of Trade Finance at ABC International Bank commented: “We are delighted to have concluded this important facility for Jaguar Land Rover. Notwithstanding the difficult economic environment we remain committed to supporting our customers.”
About Jaguar Land Rover
Jaguar Land Rover is a business built around two great British car brands that design, engineer and manufacture in the UK. Jaguar Cars Limited, founded in 1922, is one of the world’s premier manufacturers of luxury saloons and sports cars. Since 1948 Land Rover has been manufacturing authentic 4x4s that define 'breadth of capability' in their segments.
About ABC International Bank plc (ABCIB)
ABC International Bank plc (ABCIB) was established in 1991 as a wholly-owned UK subsidiary of Bahrain-based Arab Banking Corporation (ABC).
Today, as then, the principal thrust of ABCIB’s strategy is to enhance the ABC Group’s international reach and allow it to better to serve its clients with a view to increasing the flows of trade and investments between Europe, the Middle East and North Africa (MENA). ABCIB’s core business comprises trade and commodity finance, project, export and structured finance, Islamic asset management and treasury services.