Dubai, United Arab Emirates: Royal Jordanian Airlines has announced the signing of a syndicated $ 275 million loan agreement, this deal has succeeded in finding a common structure that combines my way of conventional and Islamic financing to meet the different requirements of the Royal Jordanian.
Was signed with the seven banks are headquartered in the United Arab Emirates, Qatar, Jordan and include both Mashreq Bank, which assumed the role of sole coordinator in charge of the loan and the Arab issuing bank, the Bank of Business Bay, Dubai Islamic Bank, Commercial Bank / Qatar, who has worked as an entrepreneur Managing Officer, and the Arab Investment Bank Jordan, who took over the role of the regulator and the Union Bank official who has had the role of regulator.
Royal Jordanian will be used to finance the proceeds of this loan, which extends for five years in a re-financing of existing debt on the company and provide more ways to support the strategic growth plans and continued to strengthen in the short and medium term.
Mashreq has sought, through a network of partners both regions, to meet the financing of Royal Jordanian Airlines and diversify the sources of funding for Islamic banks and conventional banks based in the GCC headquarters of its requirements.
Value by the banks mentioned have Tjaot amount that was required for the loan at the beginning, which reflects the banks 'and financial institutions' confidence in RJ's position as the national carrier of Jordan and clarity of vision of the future of the company, particularly It applies axes major works that form the road map for the coming years plan.
Chairman of the Royal Jordanian administration Sulaiman Hafiz explained that the company has succeeded in signing an agreement of this syndicated loan, which comes as part of a strategic shift and raise capital and refinance its debt in order to implement its plans for growth and expansion studied both on the lines or updated aircraft fleet level, pointing to the company will continue to update its fleet introducing more Boeing 787 aircraft by the end of this year within the preset plan after it had been introduced in 2014, five aircraft of this evolving style.
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