Al Jazeera Finance inks $95m syndicated facility
Al Jazeera Finance (AJF) has signed a $95m (QR345.8m) 3-year dual currency Murabaha facility with a syndicate of banks from the GCC. QInvest acted as sole bookrunner and structuring adviser to AJF. Qatar Islamic Bank took the Mandate Lead Arranger (MLA) role and is also acting as the Investment Agent. Ahli United Bank, First Gulf Bank UAE and QInvest were the Lead Arrangers. According to Amer Al Jabri, Chief Executive Officer of AJF, the agreement is an important stepping stone towards diversifying AJF's funding sources, and reaching out to a wider group of banking relationships.