Amman: Capital Bank of Jordan (“CBJ” or the “Borrower”) is pleased to announce the successful signing of a USD 115 Million Senior Unsecured Syndicated Term Loan Facility (“Facility”) signed on 15th August 2022. 

Mashreq bank psc acted as the sole Coordinator, Facility Agent, Mandated Lead Arranger and Bookrunner (the “MLAB”) for the Facility. Abu Dhabi Commercial Bank PJSC and Banque du Caire acted as Mandated Lead Arrangers (MLAs), Bank of Jordan Company – Wholesale Banking Branch – Bahrain, and United Arab Bank PJSC acted as Lead Arrangers (“LA”) and Bank Muscat S.A.O.G., Doha Bank Q.P.S.C., Habib Bank LTD. (BUR DUBAI BR), HBL Belgium, The National Bank of Ras Al-Khaimah (P.S.C.), Tunis International Bank, and United Bank Limited acted as arrangers. Clifford Chance LLP was the lenders legal counsel.

The Facility will be used for meeting general corporate funding requirements of CBJ.  

The Facility met with resounding success with an over-subscribed book size. Considering it was CBJ’s first ever syndicated borrowing, participation from 12 banks across the region, across 2 continents helped in advancing CBJ’s profile regionally.

CBJ’s Group Financial Institutions Director, Jamal AlQudah said that “CBJ is delighted with the outcome of this transaction and is thankful for the support of a diverse group of international and regional banks, some of which have been our reliable commercial funding partners for several years and some being on-boarded as new relationship banks that will further enhance CBJ’s funding sources. The wide subscription achieved in this facility demonstrated the faith reposed by our partners in CBJ in particular and Jordan as a growth market.” 

Joel Van Dusen, Group Head of Corporate & Investment Banking at, Mashreq commented: “The successful completion of this strategic transaction reinforces Mashreq’s position as a leading bookrunner for regional credits. We are proud to be associated with this flagship deal and trusted by CBJ to deliver a landmark capital raising in the regional market. We would like to extend our gratitude to all the partner banks for taking part in this deal, which strengthens the credit standing of CBJ and establishes a borrowing benchmark for future capital raising for different entities in Jordan.

-Ends-

About CBJ

Capital Bank Group is considered one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 6.5 billion (USD 8.5 billion), while the total equity of its shareholders is nearly JOD 600 million (USD 845 million).

Capital Bank Group includes Capital Bank, which since its inception in 1995, has grown to become one of the top financial institutions in Jordan, offering the Jordanian market a comprehensive set of commercial and investment banking services and solutions tailored to the needs of retail and corporate clients alike.

In 2005, Capital Bank (Jordan) purchased majority shares of the National Bank of Iraq (61.85%), which enabled NBI to develop its products and services, strengthen its foothold and enhance financial inclusion at the country level, support export activities and provide all services to Jordanian companies operating In Iraq.  In 2021, the National Bank of Iraq continued to realize its expansion strategy by launching its operations in the Kingdom of Saudi Arabia to provide financial and trade services to its corporate clients.

As for Capital Investments, it is a wholly owned subsidiary of Capital Bank established in 2006 and is set as a regional leader in providing comprehensive investment banking services that include asset management, brokerage as well as corporate financial advisory. The company serves a diverse array of local, regional, and international clientele, including major corporations, government entities, and high-net-worth individuals through its offices in Jordan and the United Arab Emirates / Dubai International Financial Center (DIFC).

Further building on its ambitious expansion strategy, Capital Bank Group also acquired Bank Audi’s operations in both Jordan and Iraq in 2021 and followed that milestone in 2022 with the acquisition of the branches and operations of Société Générale Bank in Jordan, strengthening its competitive position in the Jordanian banking market. In early 2022, Capital Bank launched its digital bank – Blink, to re-imagine the way people conduct their banking operations, targeting young individuals.

In June 2022, Capital Bank Group increased its capital and took in the Saudi Public Investments Fund – one the largest sovereign funds worldwide – as a strategic partner with a 23.97% stake, a milestone which will enable the Group to implement its expansion strategy and introduce new products and services to meet the needs of its clients and benefit its shareholders. 

For more information, please visit: https://www.capitalbank.jo/

About Mashreq

One of the UAE’s best performing banks for five decades, Mashreq is a leading financial institution with an expanding footprint across the Middle East. We have international offices in Europe, Asia, Africa and the US, and a strong presence in the financial capitals of the world.

As the oldest bank in the UAE, our journey can be traced back to humble beginnings in 1967, followed by periods of rapid growth and strategic expansion. Throughout our history, Mashreq has differentiated itself by pioneering new-to-market concepts and launching unique products and services. 

Our innovative approach sets us truly apart, it also continues to win us numerous awards and accolades across all fields including digital banking, the most recent were: Market Leader by Euromoney Cash Management Survey  in UAE for Corporates and in the Middle East and Africa for the Financial Institutions, Market Leader by Trade Finance Survey in the UAE and Middle East, Middle East Best Digital Bank by Euromoney Regional Awards for Excellence, the Most Innovative Consumer/Corporate Digital Bank in the UAE and Best Bank in the UAE by World's Best Bank Awards by Global Finance, Most Innovative Bank in the Middle East by EMEA Finance and many others.

Media Contacts 
For CBJ: 
[Orayb Akeel, Corporate Communications Manager]  
[Orayb.akeel@capitalbank.jo] 

For Mashreq  
Rana AlBorno                                                  
Public Relations, Mashreq                                                                             
Email: RanaAlb@mashreq.com


Cap Expand Partners sharing news from: www.zawya.com

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