News DeskSharjah, UAE – Bank of Sharjah, a leading commercial bank in the UAE, has successfully acted as a Mandated Lead Arranger in a US$ 800 Million 4-year Syndicated Revolving Credit Facility for Investcorp Capital. The deal, which involved several other international and regional banks, saw Investcorp upscale the facility from an initial US$ 600 million due to significant market interest.
Mohamed Khadiri, CEO of Bank of Sharjah, highlighted the strategic importance of the collaboration, stating that it underscores the bank’s role in facilitating major financing transactions and supporting the growth ambitions of its clients. He noted that the substantial oversubscription of the facility reflects Investcorp’s robust business fundamentals and credit appetite.
Abbas Rizvi, Chief Financial Officer of Investcorp Capital, expressed delight at welcoming new business partners to Investcorp Capital. He pointed out that their Capital Financing Services business achieved 47% year-on-year growth. With the successful refinancing at competitive terms, he believes they are well-positioned to grow their business and deliver solid returns to stakeholders.
Khadiri further elaborated on the significance of the syndication for Investcorp, stating that while the Group has successfully accessed the syndicated loan markets in the past, this facility marks a significant milestone for Investcorp Capital, a newly established subsidiary based out of Abu Dhabi Global Market. The participation of 22 banks underscores the global reach and credibility of the Investcorp Group.
In his concluding remarks, Khadiri expressed delight at having Investcorp as one of their international customers, marking the beginning of a long-standing and mutually beneficial partnership. He affirmed that this transaction adds to Bank of Sharjah’s impressive track record of providing financing services and advisory to major institutions locally and across the region. He reiterated the bank’s commitment to pursuing its strategic objectives, aiming to strengthen its position as a premier banking institution in the Emirate of Sharjah and the UAE, while meeting the evolving needs of its valued customers.
