Kuwait: KFH CEO Mazen Saad AlNahedh said, “Kuwait Finance House K.S.C. and GIB Capital LLC have succeeded, as Financial Advisors, in structuring a US$ 500 million syndicated Ijara facility in favor of Sharjah Electricity & Water Authority.”
It confirms KFH’s continuity in playing vital roles in financing infrastructure projects. Al-Nahedh added in a press release: “KFH’s participation of US$ 120 Million in this 5-year transaction is the largest participation amongst the Mandated Lead Arrangers which include Gulf International Bank (B.S.C.), ABC Islamic Bank, Sharjah Islamic Bank PJSC and Barwa Bank (Q.S.C.)”. The transaction is guaranteed by the Government of Sharjah.
SEWA will utilize the proceeds to finance its current and future projects, which includes the infrastructure and expansion plans to meet the growth needs that Sharjah is witnessing. About KFH’s role in the transaction, Mr. Al-Nahedh emphasized that KFH as Financial Advisor along with GIB Capital have structured and arranged the transaction including solicitation of other participants and working with the legal counsels to finalize the transaction’s facility agreements on behalf of all participants.
