Bank ABC closes $75 mn loan facility for the Industrial Bank of Kuwait
Manama, Bahrain: Bank ABC, one of MENA’s leading international banks, has successfully closed a 3-year US$ 75 million Term Loan Facility (the “Facility”) for Industrial Bank of Kuwait K.S.C (“IBK”). The Facility, which was finalised in December 2022, was arranged by Bank ABC, acting as sole Arranger. The Bank also acted as the agent bank on this facility.
Bank ABC hosted a signing ceremony at its Head Office in Bahrain on January 29, 2023. In attendance were Bank ABC’s Acting Group CEO, Sael Al Waary and IBK’s CEO, Ali A. Khajah along with other senior officials from both banks.
Commenting on the transaction, Mr. Al Waary said: “Bank ABC is delighted to be the sole Arranger and Agent Bank for this facility for IBK. The transaction is another example of our innovative approach to delivering tailored financial solutions and commitment to the development of the region. We look forward to serving IBK in our full capacity and further deepening our long-term relationship with them.”
On his part Mr. Ali Khajah said “We are pleased to engage in business with a highly recognised financial institution such as Bank ABC. We believe IBK will continue to strengthen its relationship with Bank ABC across all financial services while promoting both organisations’ mutual interests in the near future.”
