GFH repays US$45 million of debt

Manama : GFH Financial Group (GFH), yesterday announced that it has repaid US$45 million to its debt syndicates.

This repayment represents more than 25 per cent of the Group’s outstanding facilities. GFH outstanding syndicated facilities now stand at US$105m only, whilst GFH total equity is US$700m.

Commenting, Hisham Alrayes, CEO of GFH Financial Group, said, “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.