Abu Dhabi’s Waha Capital gets new $500mn revolving credit facility

By Shilpa Annie Joseph, Official Reporter
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Waha Capital
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Abu Dhabi-based investment management company Waha Capital has completed the refinancing of its revolving credit facility with the support of four local and regional banks.

According to the statement, the three-year $500 million revolving credit arrangement replaces and expands the existing $400 million facility.

A revolving credit facility is a line of credit that is arranged between a bank and a business. It comes with an established maximum amount, and the business can access the funds at any time when needed.

The lender group, which included the following banks, reacted positively to the facility’s syndication. Abu Dhabi Commercial Bank, First Abu Dhabi Bank, and Commercial Bank of Dubai have acted as the mandated lead arrangers, bookrunners, and structuring and coordinating bank. Whereas, Gulf International Bank acted only as mandated lead arranger.

Ahmed Khalifa Al Mehairi
Ahmed Khalifa Al Mehairi
CEO – Waha Capital

“Our robust financial performance, despite pandemic-induced market volatility, attracted positive interest from the lending community. This new credit facility represents their vote of confidence in our business today, which I am confident will help create and sustain further value for our shareholders. This new 3-year facility will allow the company to manage its short-term working capital effectively, enabling the company to further capitalize on future growth opportunities, while giving it the increased bandwidth required to continue to steer the business in the right direction and ensure a highly efficient degree of liquidity management.”

Waha Capital made a net profit of $41 million (AED154 million) in the second quarter of 2021, up 39 percent from the previous quarter and bringing the total for the first half of 2021 to $72 million (AED265 million). This growth was largely driven by its Public Markets business, whose assets under management recently exceeded the significant $1 billion milestone.

Waha Capital

Established in 1997, Waha Capital is an Abu Dhabi-listed investment company that offers shareholders and third-party investors exposure to high-potential opportunities in diversified asset classes. The firm manages assets across several sectors, including aircraft leasing, healthcare, financial services, energy, infrastructure, industrial real estate, and capital markets.

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