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Warba Bank signs $400M syndicated financing facility


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Warba Bank signs $400M syndicated financing facility

Warba Bank KSCP closed a debut $400 million syndicated three-year murabaha financing facility, according to a Dec. 20 statement.

The Kuwaiti lender said the facility size was initially launched at $250 million and later increased to $400 million after drawing strong interest from the market. The facility will be used by the bank for general funding purposes.

A total of 15 banks from the Middle East and North Africa, Europe and Asia participated in the transaction.

Bank ABC, Abu Dhabi Commercial Bank, Boubyan Bank and First Abu Dhabi Bank served as initial mandated lead arrangers and book runners for the facility, with Bank ABC as sole coordinator and First Abu Dhabi Bank as investment agent.