Bank of Sharjah acts as mandated lead arranger and bookrunner in a $155mln club loan facility for Daewoo Engineering & Construction
Sharjah, UAE – Bank of Sharjah, one of the leading commercial banks in the UAE, has reaffirmed its commitment to strengthening its footprint in local, regional and, international markets. Accordingly, the Bank has acted as Mandated Lead Arranger and Bookrunner for a US$ 155 Million Club Loan Facility for Daewoo Engineering & Construction Co Ltd., one of Korea's leading construction companies with a significant global presence. The three-year facility, arranged in collaboration with other regional banks, will be used for general corporate purposes, supporting Daewoo's working capital requirements for ongoing projects globally.
Following the successful completion of the transaction, Mr. Mohamed Khadiri, CEO of Bank of Sharjah stated: 'We are delighted to have played a pivotal role in arranging this club loan for Daewoo Engineering & Construction. This achievement reflects Bank of Sharjah's strategic vision of supporting large international contractors by providing tailored financing solutions beyond their domestic borders.'
Mr. Khadiri added: 'While Daewoo E&C has regularly tapped the syndicated loan markets in the past, this transaction represents another important milestone in expanding its banking relationships in the region. Our participation in this facility aligns with our mission to provide innovative financing solutions to global conglomerates while enhancing Bank of Sharjah's international market presence.'
Mr. Haisam Mustafa, Head of International & Financial Institutions commented: 'This transaction further strengthens our track record of providing financial and advisory services to major multinational corporates worldwide. As we continue to pursue our strategic objectives, we remain committed to reinforcing our position as a premier banking institution in the Emirate of Sharjah and a leading bank in the region. We will continue to deliver bespoke funding solutions that meet the evolving needs of our customers.'
-Ends-
About Daewoo E&C:
Established in 1973, Daewoo Engineering & Construction is recognized as one of the world's largest construction companies. Headquartered in Seoul, South Korea, the company is engaged in engineering and construction business, including civil works, architectural works, housing works, power plants and other projects in both domestic and overseas markets. With an established presence in UAE and the wider region, Daewoo is currently executing several mega projects.
About Bank of Sharjah:
Bank of Sharjah was established on December 22, 1973, through a decree issued by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, UAE Supreme Council Member and Ruler of Sharjah. Banking operations started in May 1974. The Bank was the first commercial bank in Sharjah, the fifth in the Federation and the first to make 40% of its capital available for public subscription.
For media inquiries, please contact:
Amir AlSalous
Head of Marketing and Communications, Bank of Sharjah
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