Gulf Capital secures Dh500m debt facility
Private equity firm Gulf Capital has secured a five-year, Dh500 million debt facility from Abu Dhabi Commercial Bank to fund further investment
Abu Dhabi: Private equity firm Gulf Capital has secured a five-year, Dh500 million debt facility from Abu Dhabi Commercial Bank (ADCB) to fund further investment.
"The new flexible medium-term revolver will allow the firm to leverage its balance sheet and finance its investments as they arise," Gulf Capital said in a statement yesterday.
"[It will] help finance Gulf Capital's growing pipeline of investments across its various business units."
Ala'a Eraiqat, CEO of ADCB, said: "ADCB has enjoyed a strong relationship with Gulf Capital since its inception. We look forward to continuing our close cooperation with Gulf Capital and helping them grow their franchise."
Dow Jones reported yesterday that Gulf Capital has been one of the most active private equity houses in the region in recent months. It sold an investment in a maritime services company last summer, and last month acquired 82.7 per cent of Saqr Energy Solutions, a temporary power generation company based in Dubai.
