Continues to strengthen GFH’s balance sheet and enhance its overall financial position


[Manama, 25 December 2016]: GFH Financial Group (“GFH” or the “Group”), the Bahrain based financial group, announced that it has paid the entire amount of its US$300 million syndicated financing facility, which was originally drawn in 2006. The facility, which was payable on a yearly installment basis with final maturity in July 2018, has now been settled with a recent payment of an outstanding amount of US$29 million.

Commenting, Mr. Hisham Alrayes, CEO of GFH Financial Group, said, “We are pleased to continue to strengthen our balance sheet with this prepayment. The facility had participation from a mix of GCC and international banks, who were very pleased by GFH’s excellent repayment capability throughout the repayment period despite market challenges.

As we deleverage and repay our liabilities, we free up our assets pledged under these financing facilities and are able to generate positive cash flows thereof, which are being deployed to expand GFH’s businesses. We have been able to significantly deleverage over the past few years, having had consolidated financing liabilities in excess of US$1 billion in 2008 compared to US$112 million currently; with a low debt to equity ratio of 16% only. This low ratio provides GFH with a solid platform to grow the business in the future.”

Mr. Alrayes concluded, “Today, GFH is a stronger, more liquid and highly capitalized Group and through our sound commercial and investment banking activities, we are set for a brighter future.”

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About GFH Financial Group:

GFH is one of the most recognized financial groups in the gulf region that includes: Asset Management, Wealth Management, Commercial Banking and Real Estate Development. The group operations are focused in the GCC, North Africa and India. GFH is listed in Bahrain Bourse, Kuwait Stock Exchange and Dubai Financial Market.

For further information about GFH, please visit: www.gfh.com

For more information please contact:
Nawal Al-Naji- Senior Officer
Corporate Communications Department, GFH Financial Group B.S.C.
Tel: +973 17538538; Email: nalnaji@gfh.com