Gulf Bank K.S.C.P., one of Kuwait’s leading conventional banks, has successfully signed a $650 million Senior Unsecured Syndicated Term Loan Facility. This marks Gulf Bank’s debut in the international syndicated loan markets and provides a sustainable and diversified financing route for the bank.

The loan was coordinated by Emirates NBD Capital Limited and Standard Chartered, both of which served as Global Coordinators, Mandated Lead Arrangers, and Bookrunner. The proceeds from this facility will be utilized for Gulf Bank’s general corporate purposes.

Waleed Mandani, Gulf Bank’s Acting Chief Executive Officer, noted that the transaction garnered strong interest from both global and regional banks. He highlighted that the facility was significantly oversubscribed, allowing Gulf Bank to increase the size of the facility to $650 million from an initial $500 million. Mandani emphasized that this success affirms Gulf Bank’s reputation as a regional banking leader with high creditworthiness and financial strength.

Hitesh Asarpota, CEO of Emirates NBD Capital, expressed pride in facilitating Gulf Bank’s milestone transaction, indicating strong demand from investors. He stated that this reflects Emirates NBD Capital’s commitment to fostering long-term partnerships and enhancing access to global liquidity.

Rola Abu Manneh, Chief Executive Officer of Standard Chartered for the UAE, Middle East, and Pakistan, commented on the high level of investor confidence in Gulf Bank and the resilience of the syndication market. She noted that the strong demand for the facility demonstrates the liquidity available to leading institutions.

The facility involved participation from a diverse group of regional and international lenders, with Emirates NBD Bank acting as the Facility Agent. Gulf Bank, with total assets of KD 7.5 billion as of December 30, 2024, offers a wide range of financial services through over 50 branches and 300 ATMs in Kuwait.