Business Reporter -
MUSCAT -
Jan 3: Oman ORIX Leasing Company SAOG, one of the leading Non-Banking Finance Companies in Oman, has successfully raised $25 million bilateral term facilities from regional banks.
The term facilities were provided by BBK BSC and the National Bank of Ras Al Khaimah (RAKBANK) and will be utilised by Oman ORIX to fund its leasing finance business. Alpen Capital LLC, Oman acted as the sole financial adviser to the transaction.
The signing ceremony with BBK was attended by Prasenjit Mandal, Department Head — Institutional Banking, Shahin Mohammed Ahmed al Balushi, Chief Executive Officer, Oman ORIX along with other senior executives from both organisations and Alpen Capital.
The signing ceremony with RAKBANK was attended by Sunil Pherwani, General Manager, Oman ORIX Leasing Company SAOG, Peter England, Chief Executive Officer, RAKBANK, Rohit Walia, Executive Chairman, Alpen Capital along with other representatives from Oman ORIX, RAKBANK and Alpen Capital.
“We would like to use this opportunity to extend our gratitude to all parties involved in making this transaction a success and supporting us in our growth objectives. We have made it a priority to diversify our funding sources and I am glad that we were able to establish new banking relationships in the region through this transaction,” says Shahin Mohammed Ahmed al Balushi, CEO, Oman ORIX Leasing Company SAOG, Oman
“We are proud to be associated with this transaction and happy to support Oman ORIX with its growth strategy. Their strong track record and reputation have played an important role in helping us execute this transaction seamlessly and place it successfully with regional banks,” says Siraj Bhavnagarwalla, Managing Director, Alpen Capital LLC, Oman.
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