IslamicFinance.de

Qatar Islamic Bank (QIB), Noor Bank and Warba Bank, the mandated lead arrangers, announced the successful closure of a $155m Shariah-compliant receivable backed syndicated financing facility for a UAE-based Jafza entity. The facility is a transaction that enabled the obligor to securitise its future receivables guaranteed by multinational oil and gas companies. Noor Bank acted as lead arranger and bookrunner for the facility besides its role as the account bank, documentation bank, Shariah-coordinator, as well as investment and security agent. The facility was designed to refinance existing debt and finance the company’s future capital expenditure.