Complex Made Simple

UAE NBF Capital spearheads Dhs180m maiden syndication for ZAFCO

Transaction highlights NBF Capital’s market-leading corporate advisory capabilities

National Bank of Fujairah PJSC (NBF) announced that NBF Capital Limited has successfully concluded a maiden syndication transaction valued at DHS180m for ZAFCO FZCO.

NBF Capital, a fully-owned subsidiary of NBF and regulated by the Dubai Financial Services Authority, acted as the financial advisor and book-runner for the transaction.

The five-year term loan facility was fully underwritten by NBF, which also acted as the facility and security agent. ZAFCO, a leading global distributor, importer and exporter of automotive tires, batteries and lubricants that is based in the UAE, will use the funds to finance its core working capital requirements.

The syndication had a total of four participating banks, with NBF and First Gulf Bank acting as the mandated lead arrangers, and Mashreq Bank and National Bank of Oman as arrangers.

P.B. Das, Senior Executive Officer of NBF Capital, said: “This transaction further establishes our position as a bespoke financial services provider in the UAE. By structuring sophisticated advisory solutions that meet the increasingly diverse requirements of our clients as they take their businesses to the next level, NBF Capital shows time and again its ability to create value for companies of varying sizes from industries as diverse as precious metals, healthcare, information technology, trading and manufacturing.”

“We are pleased to be able to play a leading role in ZAFCO’s maiden syndication. It is good to also witness strong interest from banks for this transaction, demonstrating not just market confidence in ZAFCO’s management and the company’s potential, but growing recognition and trust of NBF Capital’s deal making capabilities,” he added.

With this latest transaction, NBF Capital would have over Dhs2.5bn worth of deals that are closed or in the pipeline. It was recently awarded “Best Corporate Advisory Service” at the Banker Middle East UAE Product Awards 2015.

Mr. Amir Abbas, Executive Director, ZAFCO said: “We would like to thank all participating banks for their support, which is testament to their trust in our company and future. This transaction is invaluable in our ongoing efforts to strengthen ZAFCO’s position as a leading supply chain management company in the automotive parts industry and will also allow us to constantly expand and improve on our service offerings on behalf of our customers. We would also like to thank the NBF Capital team for the professional and collaborative way in which they concluded the syndication.”