Waha Capital Obtains $505 Million Three-Year Credit Facility

June 13 (Bloomberg) -- Waha Capital PJSC, a leasing company based in Abu Dhabi, obtained a $505 million term and revolving credit facility from 11 regional and international banks.

The facility is for three years, the company said in an e-mailed statement today.

Waha is “looking to deploy this capital in existing and new investments,” Chief Executive Officer Salem Rashed Al Noaimi said in the statement.

The banks involved include First Gulf Bank PJSC, Emirates NBD PJSC, HSBC Bank Middle East Ltd., Abu Dhabi Commercial Bank PJSC, Deutsche Bank AG and JPMorgan Ltd.

The company said in April that its board approved the sale of mandatory convertible notes valued at as much as 500 million dirhams ($136 million) by June 30. The notes will be converted into shares three years after the sale, Waha said then.

To contact the reporter on this story: Zahraa Alkhalisi in Abu Dhabi at zalkhalisi@bloomberg.net

To contact the editor responsible for this story Shaji Mathew in Dubai at shajimathew@bloomberg.net