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Other senior lenders in the transaction included al khaliji, Badr Al-Islami, Commercial Bank of Qatar and Qatar Islamic Bank (QIB) who participated as Mandated Lead Arrangers, while Qatar International Islamic Bank (QIIB), Arab Bank and Doha Bank joined in at the Lead Arranger level. The deal also included, United Bank Limited (UBL) and Masraf Al Rayan.
"This facility underscores our resolve to achieve our vision of becoming one of the most diversified business groups in the region through focused expansion,"
said H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman & CEO of Al Faisal Holding.
"Citi's global expertise and network meet our aspiration for a truly global financial partner with the right distribution capabilities."
Tarek M Al Sayed, Chief Financial Officer of Al Faisal Holding Company and Vice Chairman of Aamal Company Q.S.C., said, "The transaction heralds a big step forward for Al Faisal in fulfilling its growth needs and I thank all the banks who made commitments to our growth through this deal."
Farhan Mahmood, CEO of Citibank N.A. Qatar, said: "Al Faisal and Citi have a shared goal of regional growth, and citi is privileged to have led this transaction on Al Faisal's behalf. We also thank all syndicate banks who supported this deal."
David Proctor, Chief Executive Officer of al khaliji said: "al khaliji is delighted to support the growth ambitions of the Al Faisal Holding Company and the development of Qatar's economy."
Al Faisal Holding Company commands a well-diversified business base, and is involved in a number of industries including real estate, trading, Transportation and Excavation, entertainment, education, services and construction sector.
Citi has been present in the Arab World for nearly fifty years and continues to view the region as critical to its global franchise. It is currently present in ten Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.
Posted by Anne-Birte Stensgaard, Senior News Editor
