Manama,
Bahrain: Bank ABC, one of MENA’s leading
international banks, has successfully closed a 3-year US$ 75 million Term Loan
Facility (the “Facility”) for Industrial Bank of Kuwait K.S.C (“IBK”). The
Facility, which was finalised in December 2022, was arranged by Bank ABC,
acting as sole Arranger. The Bank also acted as the agent bank on this
facility.Bank ABC hosted a signing ceremony at its
Head Office in Bahrain on January 29, 2023. In attendance were Bank ABC’s
Acting Group CEO, Sael Al Waary and IBK’s CEO, Ali A. Khajah along with other
senior officials from both banks.
Commenting on the transaction, Mr. Al Waary
said: “Bank ABC is delighted to be the sole Arranger and Agent Bank for this facility
for IBK. The transaction is another example of our innovative approach to
delivering tailored financial solutions and commitment to the development of
the region. We look forward to serving IBK in our full capacity and further deepening
our long-term relationship with them.”
On his part Mr. Ali Khajah said “We are
pleased to engage in business with a highly recognised financial institution
such as Bank ABC. We believe IBK will continue to strengthen its relationship
with Bank ABC across all financial services while promoting both organisations’
mutual interests in the near future.”
