More than 92% of the Sukuk holders voted in an Extra-ordinary General Meeting (EGM), held at the bank's offices on 15 May 2012, of which 100% voted in favor of the new terms. The GFH Sukuk will mature in June 2018 and will also provide GFH a 2 year grace period for the principal repayment amount in 2012 and 2013. Liquidity Management Centre and KPMG acted as Advisors for this transaction.
Commenting on the announcement, Mr Hisham Alrayes, Acting Chief Executive Officer of GFH said, "With the approval to restructure GFH's Sukuk, we are now in a better position to accelerate growth initiatives for the future. We are targeting to extend the maturities of our debt over a longer term to retain our key assets. The restructuring of the GFH Sukuk is an extremely positive development for the Bank, and will enhance the bank's balance sheet significantly. I would like to thank our creditors for their confidence in the bank and the management team by voting to restructure our facility.
Adding his comments on the restructuring of the GFH Sukuk, Mr. Ahmed Abbas, Chief Executive Officer of the Liquidity Management Centre said: "This deal represents one of the most successful restructuring deals that we have worked on. The unanimous approval of the new terms by the Bank's Sukuk holders is a reflection of their confidence in GFH, and is recognition of GFH's commitment to its Sukuk holders. We look forward to working on future projects with GFH, and supporting them in their business growth.
starship troopers starship troopers nfl nfl cruise ship italy patriots broncos game saints
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.