16.10.2008
DVB Bank and NBK Capital advise Boodai Group on the establishment of a major aircraft leasing company
DVB Bank and NBK Capital are the exclusive financial advisors to the Boodai Group, promoters of Jazeera Airways, in a landmark transaction for the establishment of what will be one of the Middle-East's largest aircraft leasing companies.
The Company, to be called Sahaab Aircraft Leasing Company ("Sahaab Leasing"), will be based in Kuwait and will specialize in the leasing of wide and narrow body aircraft to airlines in the Middle East and internationally.
NBK Capital and DVB Bank are providing advisory services to help establish the company, and NBK Capital will also raise approximately USD 375 million in equity for Sahaab Leasing over a 3-year period. In addition, it is expected that the advisors will arrange over USD 1 billion in debt over time to facilitate the acquisition of a large portfolio of aircraft for Sahaab Leasing.
Bertrand Grabowski, Member of the Board of Managing Directors of DVB Bank, said: "At DVB we are delighted to have been selected by Boodai Group to bring our aircraft finance expertise and aviation platform to such a prestigious project. Working with two such prominent partners, Boodai Group and NBK Capital, to create Sahaab Leasing is further evidence of our growing activity in the Middle East, a strategic market for DVB to provide our transport finance services".
"NBK Capital and DVB Bank alongside Boodai Group have structured this transaction during a challenging time which is a testament to the strong capabilities of the parties involved. We at NBK Capital are proud to continue building our track record in assisting blue chip companies such as the Boodai Group to achieve their strategic objectives," says Amjad Ahmad, Chief Executive, Investment and Merchant Banking, NBK Capital.
Marwan Boodai, Sahaab Leasing founder and Boodai Group CEO confirmed his expectation that this was the ideal time to launch such a significant business venture, in spite of the current global financial turmoil. "Given the current global investment market, we wanted to ensure that this significant project is handled with the expertise and the capabilities it deserves. Both NBK Capital and DVB Bank allow us to proceed with confidence in what will be a landmark project in the Middle East."
About DVB Bank
DVB Bank SE, incorporated in Frankfurt/Main, is an international bank that specializes in the global transport market. DVB offers integrated financing solutions and advisory services in respect of Shipping, Aviation, and Land Transport. The Bank operates out of offices in Frankfurt/Main, Hamburg, London, Cardiff, Rotterdam, Bergen/Oslo, Piraeus, Zurich, Singapore, Tokyo, Hong Kong, New York and Curaçao. DVB Bank SE is listed on the Frankfurt Stock Exchange (ISIN: DE0008045501).
www.dvbbank.com
About NBK Capital
NBK Capital is a regional investment bank that employs 150 experienced finance professionals in offices in Kuwait, Istanbul and Dubai. NBK Capital aims to deliver innovative diversified services and products to businesses across the region. NBK Capital has a deep understanding of the business, cultural and regulatory environment of the Middle East region and is able to leverage its relationship with National Bank of Kuwait, the highest rated bank in the region that operates in 17 international markets.
www.nbkcapital.com
About Boodai Corporation
The Boodai Corporation is a Kuwait-based group of diverse though complementary companies engaged in construction, heavy equipment, building materials, engineering and equipment, transport and stevedoring, shipping, logistical services, energy, travel, consumer durables, trading and distribution.
www.boodai.com
Contact:
The Company, to be called Sahaab Aircraft Leasing Company ("Sahaab Leasing"), will be based in Kuwait and will specialize in the leasing of wide and narrow body aircraft to airlines in the Middle East and internationally.
NBK Capital and DVB Bank are providing advisory services to help establish the company, and NBK Capital will also raise approximately USD 375 million in equity for Sahaab Leasing over a 3-year period. In addition, it is expected that the advisors will arrange over USD 1 billion in debt over time to facilitate the acquisition of a large portfolio of aircraft for Sahaab Leasing.
Bertrand Grabowski, Member of the Board of Managing Directors of DVB Bank, said: "At DVB we are delighted to have been selected by Boodai Group to bring our aircraft finance expertise and aviation platform to such a prestigious project. Working with two such prominent partners, Boodai Group and NBK Capital, to create Sahaab Leasing is further evidence of our growing activity in the Middle East, a strategic market for DVB to provide our transport finance services".
"NBK Capital and DVB Bank alongside Boodai Group have structured this transaction during a challenging time which is a testament to the strong capabilities of the parties involved. We at NBK Capital are proud to continue building our track record in assisting blue chip companies such as the Boodai Group to achieve their strategic objectives," says Amjad Ahmad, Chief Executive, Investment and Merchant Banking, NBK Capital.
Marwan Boodai, Sahaab Leasing founder and Boodai Group CEO confirmed his expectation that this was the ideal time to launch such a significant business venture, in spite of the current global financial turmoil. "Given the current global investment market, we wanted to ensure that this significant project is handled with the expertise and the capabilities it deserves. Both NBK Capital and DVB Bank allow us to proceed with confidence in what will be a landmark project in the Middle East."
About DVB Bank
DVB Bank SE, incorporated in Frankfurt/Main, is an international bank that specializes in the global transport market. DVB offers integrated financing solutions and advisory services in respect of Shipping, Aviation, and Land Transport. The Bank operates out of offices in Frankfurt/Main, Hamburg, London, Cardiff, Rotterdam, Bergen/Oslo, Piraeus, Zurich, Singapore, Tokyo, Hong Kong, New York and Curaçao. DVB Bank SE is listed on the Frankfurt Stock Exchange (ISIN: DE0008045501).
www.dvbbank.com
About NBK Capital
NBK Capital is a regional investment bank that employs 150 experienced finance professionals in offices in Kuwait, Istanbul and Dubai. NBK Capital aims to deliver innovative diversified services and products to businesses across the region. NBK Capital has a deep understanding of the business, cultural and regulatory environment of the Middle East region and is able to leverage its relationship with National Bank of Kuwait, the highest rated bank in the region that operates in 17 international markets.
www.nbkcapital.com
About Boodai Corporation
The Boodai Corporation is a Kuwait-based group of diverse though complementary companies engaged in construction, heavy equipment, building materials, engineering and equipment, transport and stevedoring, shipping, logistical services, energy, travel, consumer durables, trading and distribution.
www.boodai.com
Contact:
Prof. Dr. Borislav Bjelicic, Phone +49 69 9750-4390, Fax +49 69 9750-4333, DVB Bank SE, Corporate Communications, Platz der Republik 6, 60325 Frankfurt/Main, Germany, borislav.bjelicic@dvbbank.com, www.dvbbank.com