Printer Friendly

GFH Financial Group settles $200 million Sukuk.

Kudakwashe

GFH Financial Group (GFH) has paid the entire amount of its $200 million Sukuk which was originally drawn in 2007.

span>The facility was funded by a mix of GCC and international banks and the bank acknowledged its timely repayments despite challenges, underscoring the strength of the bank and its debt to equity position.

Jassim Al Seddiqi, Chairman of the Board of GFH, said the repayment, GFH frees up further assets pledged under the Sukuk for potential disposal.

As of July 2018, GFH has financing liabilities of $125 million compared to $ 1 billion during corresponding period of 2008.

[c] 2018 CPI Financial. All rights reserved. Provided by SyndiGate Media Inc. ( Syndigate.info ).

COPYRIGHT 2018 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2018 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:CPI Financial
Date:Jul 30, 2018
Words:113
Previous Article:Ajman free zone supports media and entertainment start-ups.
Next Article:S&P reaffirms its BBB+ sovereign credit ratings on Sharjah.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |