Al-Nakib: Al-Deera Signs US$ 53 Million Loan from Local &
International Banks
KUWAIT (Business Wire EON/PRWEB ) October 24, 2007 --
Mr. Abdulwahab Ahmad Al Nakib Chairman & Managing Director of Al-Deera
Holding Company (KSE:ALDEERA), said that the company has successfully
concluded a syndicated three-year term loan valued at US$ 53 million
with local regional and international banks; namely Standard Chartered
Bank, Qatar National Bank, Abu Dhabi Investment Company, Commercial Bank
of Kuwait, Commercial Bank International, HSBC Bank Middle East and
National Bank of Oman.
Mr. Abdulwahab Al-Nakib signed the loan agreement with the
representative of the Mandated Lead Arranger - Standard Chartered Bank,
in presence of representative of the Lead Advisor Alpen Capital during
the signature ceremony held in Kuwait, Mr. Al- Nakib said “Obtaining
this syndicated loan for Al-Deera Holding Company within such short
period taken for arranging the loan is an indicative of the economic
strength the Company enjoys and its well reputation with financial
institutions locally and internationally. This also shows those
institutions confidence of the future plans and successful strategies
adopted by the Company. Such plans and strategies are intended to
structured and deliberate growth on the medium and long terms, and the
loan shall be used in financing and enhancing the Company’s
future plans.
Mr. Khaled Magdy Al-Marsafy, General Manager of Al-Deera Holding Company
added “Al-Deera has now successfully initiated
a close working relationship with an international syndication of
financial institutions. This reflected well on lowering the cost of
borrowing at Al Deera and paves the way for the company in the future to
structure large sophisticated financing instruments with well recognized
international banks”.
Standard Chartered representative “Standard
Chartered Bank as a Mandated Lead Arranger is proud to have had the
opportunity to assist Al Deera in bringing their debut deal to the
syndicated loan market and would like to thank the Company for choosing
us. The consortium of lenders participating in this transaction
represents a diverse group of banks from the Middle East. And SCB would
like to thank them for joining the syndication and supporting this deal”.
Al-Deera Holding Company is considered as one of the leading companies
in its line of business. The Company focuses on investment in private
and public companies which witness strong growth, most salient of which
on the local level are: International Financial Advisors (IFA) ,Kuwait
invest, International Finance Company, International Investment Projects
Company, Kuwait National Lube Oil manufacturing Company, Marketing
Services Company, First Takaful Insurance Company, Jeezan Holding
Company, Univest Group, ABC Real Estate Company, and Aiwa Gulf Company.
On the regional and international levels, the Company holds equity
investments in companies such as the Kingdom Hotel Investments Company,
Triton Distribution Systems Company, US Helicopter Co, BPL Global, PCNY
Pollo Campero Co, Chart Venture Partners, the Chart Group Company and
SeaMobile. As such Al-Deera relies upon the geographic distribution of
its investments for the purpose of distribution of its risks.
Al-Deera Holding Company’s assets at the end
of June 2007 reached KD 186 million, shareholders’
equity reached KD 157 million, net profits reached KD 18 million, and
the profit/earning share reached 52 fils, taking into considerations
that Al-Deera Holding has only been listed for two years in Kuwait Stock
Exchange.
Worth mentioning, Alpen Capital played a significant and pivotal role in
arranging the loan’s term sheet in its
preliminary phases, which was signed between both Al-Deera Holding
Company and the Mandated Lead Arranger - Standard Chartered Bank.
Mr. Al Nakib concluded the ceremony by saying “The
opportunities shall be seized to make use of the loan in financing a
distinguished package of investment opportunities which will be
disclosed in the near future”.
About Al Deera Holding
Established in 1998, Al-Deera Holding is a Kuwaiti shareholding company
(KSE:ALDEERA), listed on the Kuwaiti Stock Exchange since 2005 Al-Deera
Holding Company is considered as one of the leading companies in its
line of business. The Company focuses on investment in private and
public companies which witness strong growth
Since its inception, ALDEERA has adopted a balanced expansion strategy
that allowed for mitigating risk, while maximizing investment return. By
maintaining a diversified portfolio – both in
terms of the geographical and industrial distribution of investments –
the company has been able to maintain steady growth in its net profits;
as a result of such a strategy.
ALDEERA’s investments have also focused on
building alliances and strategic partnerships that allow for developing
the company’s competitive edge especially in
as far as competing for top-tier business opportunities is concerned. A
good example would be ALDEERA’s salient
investment in Chart Group.
Standard Chartered – leading the way in
Asia, Africa and the Middle East
Standard Chartered PLC is listed on both the London Stock Exchange and
the Hong Kong Stock Exchange and is consistently ranked in the top 25
among FTSE-100 companies by market capitalization.
Standard Chartered has a history of over 150 years in banking and
operates in many of the world's fastest-growing markets with an
extensive global network of over 1,400 branches (including subsidiaries,
associates and joint ventures) in over 50 countries in the Asia Pacific
Region, South Asia, the Middle East, Africa, the United Kingdom and the
Americas. With strong organic growth supported by strategic alliances
and acquisitions and driven by its strengths in the balance and
diversity of its business, products, geography and people, Standard
Chartered is well positioned in the emerging trade corridors of Asia,
Africa and the Middle East. Standard Chartered derives over 90 per cent
of profits from Asia, Africa and the Middle East. Serving both Consumer
and Wholesale Banking customers worldwide, the Bank combines deep local
knowledge with global capability to offer a wide range of innovative
products and services as well as award-winning solutions.
About Alpen Capital , Dubai
Based in the Dubai International Financial Centre (DIFC), Alpen Capital
is a leading investment bank providing financial solutions to
institutional and corporate clients across GCC and South Asia. Alpen
Capital specializes in combining the disciplines of strategy,
organization, leadership and finance into an integrated approach, with
the aim of helping clients to grow and increase their long-term value.
Alpen Capital’s associate Bank Sarasin –Alpen,
subsidiary of Bank Sarasin & Co, is a leading private bank offering
private banking solutions to corporate and institutional clients across
GCC and South Asia. Founded in 1841, Bank Sarasin is a leading Swiss
bank with global portfolio management and private banking services as
its core competence. Rabobank, the only “AAA”
rated private bank, is the majority shareholder of Bank Sarasin & Co.
MULTIMEDIA GALLERY http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5526735
See the original story at: http://eon.businesswire.com/releases/company/deera/prweb563931.htm
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