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Malabar

Malabar Gold concludes loan syndication transaction

: Thursday, August 14 - 2014 @ 01:28

Malabar Gold & Diamonds, one of the top five jewellery retailers in the world, recently wrapped up a loan syndication transaction to raise Dhs300,000,000. The facility will be utilised to finance the expansion plans of the group as it plans to open 14 new retail stores across GCC and Singapore as well as consolidate their existing banking relationships into a common facility structure, The Peninsula Qatar reported. NBF Capital Ltd acted as the financial adviser and book-runner for the transaction which was closed successfully. NBF Capital is a fully owned subsidiary of National Bank of Fujairah and is regulated by the Dubai Financial Services Authority. Not only is this a maiden syndication for Malabar Gold & Diamonds, it also involves a common structure with multiple borrowing entities based in Singapore, Qatar, Oman and UAE to ensure the maximum operational and cost efficiency.

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Thursday, August 14- 2014 @ 1:28 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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