Posted on December 17, 2010

al Khalij Commercial Bank (al khaliji) Q.S.C. working with its subsidiary al Khaliji France S.A. acted as Mandated Lead Arranger on the recently signed AED1.14bn amortizing term facility for the Majid Al Futtaim (MAF) Group. The transaction was oversubscribed and upsized due to the strong demand.

The transaction was concluded with a closing dinner in Dubai attended by senior representatives from the lending banks and the CEO and Senior Management of MAF Group.

“The Majid Al Futtaim Group is one of the pre-eminent businesses in the GCC and wider Middle East region” commented Mohammed Abdelkhalek, Head of Corporate & Institutional Banking at al Khaliji, “and we are delighted to be able to support this transaction as a Mandated Lead Arranger.“

Abdelkhalek continued, “As a wholesale led bank based in Qatar, al Khaliji is committed to deepening its already strong relationships with existing customers and to fostering new relationships with Corporate and Institutional customers that fit within our defined target market.”

“al Khaliji’s support and participation for this high profile and highly successful transaction with the Majid Al Futtaim Group, one of the regions’ leading businesses, is in line with our wholesale led strategy and is part of our successful and ambitious growth plans.

The AED1.14 bn Majid Al Futtaim deal further strengthens the reputation of al khaliji Corporate & Institutional Banking Division after an outstanding year during which they participated in the US$1.1 billion (QR 4 billion) financing deal for Abu Dhabi’s Emirates Steel Industries and a US$ 255 million (QR928 million) dual currency Murabaha Syndicated Facility for Turkey’s Bank Asya.

al Khaliji remains committed to advising and arranging financial support for its customers within Qatar and the GCC as they grow their business. To contact al khaliji Corporate & Institutional Division, telephone +974 4494 0000, email corporate@alkhaliji.com or visit www.alkhaliji.com

- ends-

Categories: