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Ahli United Bank and International Finance Corporation (IFC) Capitalisation Fund concluded agreements to support the capitalisation and expansion plans of AUB by investing $125 million in equity and $165 million in subordinated debt.
The agreement will also see the maturity date of the existing $200 million subordinated loan raised in 2006 extended from 2016 to 2018, thereby increasing its capital effectiveness for AUB.
"AUB is pleased to expand and diversify its banking partnership with IFC and the IFC Capitalisation Fund in a landmark capital raising transaction which will have a major impact on its regional growth and business development. IFC has proved to be a reliable strategic partner especially in these challenging times," said AUB Group CEO and managing director Adel El Labban.
