Deem to receive USD 400 mn securitization financing from JP Morgan: UAE-based Gargash Group’s consumer finance provider Deem Finance is getting a USD 400 mn asset-backed securitization facility from JP Morgan to support its lending to consumers and SMEs, the firms said in a press release.

The details: JP Morgan will provide up to USD 400 mn through a senior revolving facility, backed by a diversified pool of receivables across various asset classes by Deem. The flexible structure offered through the revolving facility will allow for adjustment to support Deem’s growth strategy.

The funding will help Deem diversify its funding sources with long-term institutional financing, strengthen its balance sheet, and support growth, the press release said.

Deem? Deem Finance was founded in 2008 and provides financial services including loans, credit cards, and corporate deposits to consumers and corporate clients.

ADVISORS- Daman Investments acted as financial advisor for Deem.

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