Ahil United raises $200m loan facility

Manama, November 24, 2011

Ahli United Bank – Bahrain, in its role as mandated lead arranger, has raised a $200 million six-year loan facility for Alfardan Properties, one of the regional luxury goods and services providers.

The facility will be used to refinance existing loans and to finance working capital and other capital projects in Qatar, a statement from the bank said.

Despite an oversubscription by 50 per cent, the facility was capped at $200 million, attracting support from six regional banks from the UAE, Qatar and Bahrain.

The banks joining the facility are Ahli United Bank, the Commercial Bank of Qatar, Ahli Bank, Gulf International Bank, the National Bank of Abu Dhabi and BBK, the statement said.

Alfardan Properties was established in 1992 to develop luxury residential real estate portfolio of assets. It owns and manages various real estate properties in Qatar, including Alfardan Gardens, Alfardan Towers as well as Kempinski Serviced Apartments. – TradeArabia News Service

Tags: Bahrain | Ahli United Bank | loan | Alfardan Properties |