News Column

Qatar : MALABAR GOLD concludes a loan syndication transaction to raise Dh300m

August 12, 2014

Malabar Gold & Diamonds has announced the conclusion of a loan syndication transaction to raise Dh300,000,000.

Malabar Gold & Diamonds is one of the top five jewellery retailers in the world. The facility is aimed at financing the expansion plans of the group as it proposes to inaugurate 14 new retail stores across GCC and Singapore along with consolidate their current banking relationships into a common facility structure.

The financial adviser and book-runner will be NBF Capital Ltd for the transaction which was closed successfully. NBF Capital, a fully owned subsidiary of National Bank of Fujairah, is regulated by the Dubai Financial Services Authority.

The facility even includes a common structure with multiple borrowing entities based in Singapore, Qatar, Oman and UAE to assure the maximum operational and cost efficiency.

The syndication has a total of five banks taking part with National Bank of Fujairah and Mashreq Bank as the Mandated Lead Arrangers, Axis Bank as the Lead Arranger, Commercial Bank of Dubai and Habib Bank Ltd. as the arrangers.

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Source: TendersInfo (India)

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