Waha Capital Secures New US$500 Million Revolving Credit Facility

Waha Capital PJSC (ADX: WAHA), a leading investment management company in Abu Dhabi, completed the refinancing of its revolving credit facility with the support of four local and regional banks. The 3-year US$500 million revolving credit facility replaces and upsizes the current facility of US$400 million. 

The syndication of the facility was positively received with the lender group consisting of the following banks:

• Abu Dhabi Commercial Bank (acted as mandated lead arranger, bookrunner and structuring and coordinating bank);
• First Abu Dhabi Bank (acted as mandated lead arranger, bookrunner and structuring and coordinating bank);
• Commercial Bank of Dubai (acted as mandated lead arranger and bookrunner); and
• Gulf International Bank (acted as mandated lead arranger).

Ahmed Khalifa Al Mehairi, CEO of Waha Capital, said: “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. 

He added: This new 3-year facility will allow the company to manage its short-term working capital effectively, enabling the company to further capitalise 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 recorded a net profit of AED 154 million in Q2 2021, representing a 39% increase over the previous quarter and bringing net profit for H1 2021 to AED 265 million. This growth was largely driven by its Public Markets business, whose assets under management recently exceeded the significant US$1.0 billion milestone.