The loan will be used to partly finance school projects in the UAE as well as refinancing existing debt.
The dual tranche loan facility, which is expected to be signed in mid-July, has a tenor of five years and an average life of approximately three years and four months. A recent institutional roadshow drew substantial interest attracting 24 institutions representing local, regional and international banks.
This Facility is the Company's debut syndicated loan and is being arranged in order to diversify and extend the Company's funding maturity profile from existing bilateral lines.
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NBD Investment Bank appointed as lead arranger for USD 100 million loan to 'GEMS'
- United Arab Emirates: Sunday, July 08 - 2007 at 17:18
- PRESS RELEASE
NBD Investment Bank (NBD - IB), the full service regional investment bank, announced today that it has been mandated as sole bookrunner to arrange a USD 100 million loan facility for Premier Schools International (GEMS).
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About National Bank of Dubai Investment Bank:NBD Investment Bank (NBD - IB) is a full service regional investment bank offering a comprehensive range of financing, advisory, investment, and risk management capabilities. It is a 100% subsidiary of the National Bank of Dubai, one of the largest banking groups in the Middle East, and is licensed for operation in the Dubai International Financial Centre (DIFC).
NBD - IB combines world class product capabilities with regional expertise to create a unique platform providing integrated and innovative solutions across investment banking, financial markets, wealth and asset management and private equity. With its team of experienced professionals, NBD - IB meets the needs of government, corporate, institutional and high net worth clients in markets across the GCC and wider MENATSA region.
Established in July 2006, NBD - IB is headquartered in Dubai.
About GEMS:
The business foundations of GEMS date back to 1968 when the Varkey family established Our Own English High School in Dubai. In 1980 Mr. Sunny Varkey assumed the management responsibility for this school. Since then Mr. Varkey has transformed this single operation into a multi-school business that owns and manages 21 schools in UAE under the education management brand GEMS Education.
Premier Schools International LLC - a UAE limited liability company - was incorporated in 2006.
For further details, please contact:
Neil Doyle
Capital MS&L
Tel: +9714 3676160
Mobile: +97150 8432465
Ibrahim Makami
Capital MS&L
Tel: +9714 3676150
Mobile: +97150 7460894
Posted by Rushika Kheradia, Assistant News EditorSunday, July 08 - 2007 at 17:18 UAE local time (GMT+4)
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