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Islamic Finance Briefing - Categorized | Finance, Financial Instruments (Credit Cards, Debts, Loans, Mort more

GFH successfully agrees new LMC syndcate facility

Posted on 03 March 2010

Gulf Finance House (GFH) announced today that it has reached an agreement with the Liquidity Management Center (LMC) syndicate to rearrange the Wakala facility.

Under the terms of the new arrangement, the existing payment obligations of US$50m in March 2010 and US$50million in March 2011 have been amended such that US$20m will be made in March 2010 with the remaining US$80m paid over 4 installments of US$20m each every six months until the full amount has been paid in 2012……………………………………….Full Press Release: Source

 
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