ABK closes $600m loan facility

Al Ahli Bank of Kuwait K.S.C.P (ABK) has announced the successful closure of a 37-month USD 600 million Asian syndicated term loan facility through its ABK DIFC branch, regulated by the Dubai Financial Services Authority. This milestone transaction positions ABK as the Kuwaiti borrower with the largest facility, in terms of volume, targeting the Asian market to date.

The purpose of this facility is to support ABK’s group liquidity requirements and facilitate its growth plans. The 37-month tenor, with a 12-month extension option, will be utilised for general corporate purposes. To promote the facility, ABK conducted a well-attended Asian Roadshow, hosting bank meetings in Hong Kong, Tokyo, and Taipei. The deal garnered significant interest in Asian markets and, due to high demand, was upsized from the initial launch target of USD 500 million to USD 600 million. A total of 11 Asian lenders participated in the landmark financing.

Joint Coordinators, Initial Mandated Lead Arrangers, and Bookrunners for the transaction included Industrial and Commercial Bank of China Limited, Dubai (DIFC) Branch, Mizuho Bank, Ltd., and Sumitomo Mitsui Banking Corporation, DIFC branch. Mandated Lead Arrangers included the Korea Development Bank, State Bank of India, DIFC Branch, and Agricultural Bank of China (DIFC Branch). Arrangers included Bank of Baroda, Dubai Branch, The Gunma Bank, Ltd., Hua Nan Commercial Bank, Ltd., Offshore Banking Branch, Land Bank of Taiwan Co., Ltd. (Incorporated in Taiwan), Hong Kong Branch, and Industrial Bank of Korea, Hong Kong Branch.

ABK’s Acting Group CEO, Abdulla Al Sumait, expressed satisfaction with the successful transaction, emphasising the bank’s strong leadership, solid fundamentals, and vision to expand its presence beyond Kuwait. Noura Alduweesh, GM of Treasury and Investment at ABK, highlighted the achievement as an important milestone, showcasing the bank’s commitment to diversifying funding sources and strengthening its position in the Asian market. Rami El Rifai, General Manager & Senior Executive Officer at ABK DIFC, reaffirmed ABK’s status as a key international funding hub within the wider group, underscoring the bank’s solid foundations and continued confidence across all markets.