US$ 185 million credit facility for GMMOS Group successfully syndicated
Deutsche Bank AG London Branch (DB) and Standard Chartered Bank (SCB), along with Abu Dhabi Commercial Bank (ADCB), DBS Bank Ltd (DBS), Mubadala GE Capital PJSC (MGE) and Al Khalij Commercial Bank (Al Khaliji) Q.S.C., have successfully arranged a USD$ 185 million Credit Facility for Abraaj Capital- and Waha Capital-backed Gulf Marine Maintenance and Offshore Service Company (GMMOS), a leading United Arab Emirates-based provider of marine services to the offshore oil & gas industry.
The proceeds of the US$ 185 million term loan facility refinance existing debt and will fund the Group's growth in the offshore supply vessel (OSV) sector, with a current focus on the GCC and South East Asia, and future expansion potential in West and North Africa. SCB and DB were mandated as bookrunners and IMLAs for this transaction, and had fully prefunded the deal in early May. ADCB, DBS and MGE then joined the deal as MLAs. Al Khaliji joined as a Lead Arranger. The Facility has a tenor of five years with an average life of 3.3 years.
Joint bookrunners DB and SCB successfully closed syndication of the facility on August 16th 2010
- Understanding the ripple effect: 8 reasons the US economy has slowed down in Q1 of 2015
- Can Bahrian emerge from the oil price plunge 'stronger than ever'?
- Egyptian stocks plummet as Yemen confict deepens
- UAE sweetens flotation regulations to attract more investment
- Replacing Switzerland? Why Lebanon isn't keeping its banking secrecy a secret
- GMMOS secures $185 million 5-year term loan facility
- Gulf Capital closes ground-breaking AED850 million revolver credit facility arranged by Abu Dhabi Commercial Bank and First Gulf Bank PJSC
- Waha Capital and Abraaj Capital enter into strategic partnership for GMMOS Group
- Vakson raises AED185 million syndication loan through National Bank of Fujairah.
- Al Khaliji Commercial Bank