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Waha Capital picks lenders to arrange $700m loan: report

January 30, 2014 8:52 am

Abu Dhabi-based Waha Capital plans to raise a $700m loan mainly to refinance existing debt, Reuters has reported, citing three banking sources aware of the matter. The investment firm, in which Abu Dhabi government investment fund Mubadala owns 16%, has selected HSBC Holdings and First Gulf Bank to help arrange the five-year loan, the sources said. Most of the cash will be used to refinance a $505m debt facility maturing in June, with the remainder to be used by the company for corporate purposes, two of the sources said.