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Warba Bank Signed a US$400 Million Syndicated Murabaha Financing Facility
20/12/2017
Warba Bank K.S.C.P. (“Warba Bank”) has successfully closed a debut US$400 million Syndicated 3-year Murabaha Financing Facility (the “Facility”). The Facility will be used for general funding purposes.  The Facility was arranged by Bank ABC, Abu Dhabi Commercial Bank, Boubyan Bank and First Abu Dhabi Bank in their capacity as the Initial Mandated Lead Arrangers and Bookrunners (“IMLABs”). Bank ABC was the Sole Coordinator and First Abu Dhabi Bank acted as the Investment Agent.  The signing ceremony was held on December 10th 2017 at the Four Seasons Hotel in Kuwait City.   
The Facility was initially launched at US$250 million, and following strong interest from the market, Warba Bank decided to utilize the significant over-subscription to increase the Facility size to US$400 million, making this transaction the largest Islamic financing facility for a financial institution in Kuwait and the region in 2017. A total of 15 banks from the MENA, Europe and Asia participated in this transaction. 
Speaking at the signing ceremony, Warba Bank’s Chief Executive Officer, Shaheen Hamad Al Ghanem, stated: “We are pleased with the positive response from our partner banks, as this is a strong indicator of the confidence that Warba Bank enjoys within the regional and international markets, in addition to its growth that has attracted the global banking sector, especially as it is steadily moving towards leaving clear footprints in the banking industry.
 
About Warba Bank: 

Warba Bank, the fastest growing bank in the MENA region, was established in 2010 in the State of Kuwait and was officially registered as an Islamic bank by the Kuwaiti central bank. Warba Bank’s mission is to become a corporate and investment banking champion with an innovative, digitally enabled retail banking business in compliance with Islamic Sharia principles. The bank managed to realize remarkable growth in the Kuwaiti Islamic banking sector in a relatively short period and aims to sustain its growth trajectory in the coming years by continuously innovating on product quality, offering customized solutions and service excellence thereby gaining the confidence of customers from various walks of life. 
Warba Bank offers a wide range of customized Sharia-compliant services and solutions through four main business groups, namely, the Investment Banking Group, the Corporate Banking Group, the Retail Banking Group and the Treasury Group
Warba Bank is committed to its business objective by focusing on the following four principles: Operating in Excellence, Applying state-of-the-art technology (e-banking), Customer Engagement & Satisfaction and Product Innovation.
The Bank is rated Baa2 (stable) by Moody’s and A+ (stable) by Fitch Ratings. 

​Initial Mandated Lead Arranger and Bookrunner​
​Bank ABC
Abu Dhabi Commercial Bank
Boubyan Bank
First Abu Dhabi Bank
 
​​Mandated Lead Arrangers​
​Al Rajhi Bank
Bank of London and The Middle East plc
Commercial Bank of Kuwait
Kuwait Finance House
Islamic Corporation for the Development of the Private Sector
National Bank of Kuwait
Noor Bank

​​Lead Arranger
​Bank Islam Brueni Darussalam
 
​​Arranger
​Banque Misr - Paris
Emirates Islamic Bank
National Bank of Bahrain
 
​​Coordinator
​Bank ABC

​​Facility Agent
​First Abu Dhabi Bank​
 

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