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Gulf Bank and Commercial Bank of Kuwait sign structured finance agreement for Jazeera Airways

17-Dec-2012 2:58 PM

Gulf Bank and Commercial Bank of Kuwait signed (15-Dec-2012) loan documentation for a structured finance transaction for Jazeera Airways Group on 12-Dec-2012. Gulf Bank acted as mandated lead arranger, lender, agent and security agent and Commercial Bank of Kuwait acted as lender on an equal basis. Jazeera Airways chairman Marwan Boodai said, "This transaction will assist us by contributing to development and expansion plans we have in place for our airline as part of our growth strategy. We are proud of our relationship with strong strategic financial partners such as Gulf Bank and Commercial Bank of Kuwait, and look forward to growing our business together." The airline issued 178 million shares on 16-Dec-2012 to raise its capital by 74% to KWD42 million (USD149 million). [more - original PR]