BFHHC fully repaid a US$134 million sukuk facility

BFHHC fully repaid a US$134 million sukuk facility
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Published August 16th, 2010 - 15:34 GMT

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Dr. Omar Al Mardi
Ahmed Abbas
Omar Al Mardi
Esam Janahi
Liquidity Management Centre
Gulf Finance House

Bahrain Financial Harbour Holding Company B.S.C. (c) ("BFHHC"), whose owners, Emar Bahrain ("Emar"), agreed to purchase Gulf Finance House's ("GFH") 49.88% investment in BFHHC in June 2010, announced today it has fully repaid a US$134 million sukuk facility arranged by Liquidity Management Centre ("LMC") which was used to finance the construction of the Financial Centre within Bahrain Financial Harbour.

GFH advised upon the structure of the sukuk and raised funds for the facility as part of its remit as financial advisor to Bahrain Financial Harbour, as well as being the originator and driving force behind the project. The effectiveness of the sukuk in financing the construction of the Financial Centre, together with GFH's successful exit from the BFHHC, illustrate the value of GFH as a financial advisor as well as the value that is being created by GFH's infrastructure investment strategy.

GFH has created significant value across the Middle East through its strategy of infrastructure development and establishing Islamic financial institutions. The success of Bahrain Financial Harbour demonstrates the value that is being created by the vision and strategic direction of of GFH's Chairman, Mr. Esam Janahi, who was instrumental in the process that helped to deliver Bahrain Financial Harbour from reclamation, construction, fund raising, the opening of the Financial Centre "phase 1", the sale of the Financial Centre to Emar and through to the ultimately successful sale of GFH's 49.88% stake in BFHHC.

Also attached is a picture of LMC, GFH and BFHHC officials. From left to Right: Mr. Ahmed Abbas, CEO of LMC, Mr. Esam Yousif Janahi, Chairman of GFH and Dr. Omar Al Mardi the Managing Director of BFHHC. 


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