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Kuwait : JAZEERA AIRWAYS wins $18.3m refinancing facility from ABC

June 21, 2014

On 18 June, Jazeera Airways Group declared that it has bagged aircraft refinancing facility through Arab Banking Corporation (B.S.C) (ABC), mahor playyer in the region's banking industry and provides innovative wholesale financial products and services, worth USD 18.3 million.

The improving debt markets have given us the opportunity to lower our cost of debt, enabling us to deploy an even better capital structure and a stronger balance sheet to support the Group s operations and strategic growth prospects, Jazeera Airways Group Chairman Marwan Boodai said. The $18.3 million refinance facility through ABC has a five-year term.

The amount would be utilized in close an existing facility with the French corporate and investment bank, Natixis, resulting in a reduction of the company's debt financing charges.

Under the five-year term, with ABC, it has USD 18.3 million refinance facility.

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Source: TendersInfo (India)

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