Manama: GFH Financial Group (GFH), the Bahrain based financial group, today announced that it has repaid US$45 million to its debt syndicates. This repayment represents more than 25% of the Group’s outstanding facilities. GFH outstanding syndicated facilities now stand at US$105million only, whilst GFH total equity is US$ 700 million.
“We are pleased to continue to strengthen our balance sheet with the scheduled repayments to debt holders. We have been able over last few years to deleveraged significantly, having had liabilities in excess of US$1 billion in 2008 compared to US$105 million only now. Our debt to equity ratio of 0.15 is a testament to this. Our debt holders have been extremely happy with GFH performance,” Mr. Hisham Alrayes, CEO of GFH Financial Group, said.
“Today, GFH is a strong, liquid and adequately capitalized Group and through our sound commercial and investment banking we are set to unlock GFH future.”
