Waha secures Dh2.75bn credit

Abu Dhabi-based investment firm Waha Capital had secured a new five-year $750 million (Dh2.75 billion) credit facility, the company said on Monday.

The facility, comprising a term loan for $375 million (Dh1.37 billion) and a revolving loan for the same amount, replaces the previous $505 million (Dh1.85 billion) facility secured in 2011, it said in a bourse statement.

The deal was coordinated by HSBC and First Gulf Bank, with Emirates NBD Capital Limited, First Gulf Bank and HSBC acting as book-runners and mandated lead arrangers.

Waha Capital, the largest shareholder in New York-listed aircraft leasing firm AerCap Holdings, started looking for fresh financing in January, initially aiming for $700 million.