GFH repays $45 million debt

Hisham Alrayes

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