{"id":91587,"date":"2024-05-02T00:00:00","date_gmt":"2024-05-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/shuaa-capital-settles-aed-500-mn-debt\/"},"modified":"2024-05-02T00:00:00","modified_gmt":"2024-05-02T00:00:00","slug":"shuaa-capital-settles-aed-500-mn-debt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/05\/02\/shuaa-capital-settles-aed-500-mn-debt\/","title":{"rendered":"Shuaa Capital settles AED 500 mn debt"},"content":{"rendered":"

Shuaa Capital fully settled AED 500 mn (USD 136 mn) in margin facilities<\/strong> with multiple UAE banks, a press release (pdf)<\/a> reads. These facilities are linked to a fund based in Abu Dhabi Global Market (ADGM) and overseen by a Shuaa subsidiary under FSRA regulation, according to the statement.<\/p>\n

Shuaa is undergoing major restructuring after substantial losses in 2023: <\/strong>The investment bank reached an agreement with bondholders in April<\/a> to stretch payment terms for approximately USD 150 mn worth of bonds after the bank\u2019s losses deepened five-fold to AED 866 mn in 2023. The company has also placed a new management team as part of its capital optimization plan.<\/p>\n

REMEMBER-<\/strong>Shuaa Capital appointed Badr Al Olama as chairman of its board of directors. Olama, who formerly served as an executive at Mubadala, was re-elected as an independent board member at Shuaa at the end of April<\/a>, after former chairman Fadhel Al Ali stepped down from the position. Nabil Ramadhan was appointed as vice chairman and Ahmed Alahmadi was appointed as the company\u2019s managing director, while Badr Al Olama was tapped as chairman<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The news follows the company\u2019s USD 150 mn bond restructuring in April<\/p>\n","protected":false},"author":1,"featured_media":91588,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1546],"tags":[1391,68,7,217],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-enterpriseam-uae","tag-shuaa-capital","wpautop","entry"],"acf":{"mongo_id":"e33d7c44-7bde-4408-8c04-f02f0307d15a","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/568.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Shuaa Capital settles AED 500 mn debt","related_issue":[91570],"teaser":"The news follows the company\u2019s USD 150 mn bond restructuring in April","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.ed14d56f-8037-419a-b9e5-f1a785504b92.mp3"},"yoast_head":"\nShuaa Capital settles AED 500 mn debt - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/02\/shuaa-capital-settles-aed-500-mn-debt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shuaa Capital settles AED 500 mn debt\" \/>\n<meta property=\"og:description\" content=\"The news follows the company\u2019s USD 150 mn bond restructuring in April\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/02\/shuaa-capital-settles-aed-500-mn-debt\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-02T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/568.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/05\/02\/shuaa-capital-settles-aed-500-mn-debt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/05\/02\/shuaa-capital-settles-aed-500-mn-debt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Shuaa Capital settles AED 500 mn debt\",\"datePublished\":\"2024-05-02T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/05\/02\/shuaa-capital-settles-aed-500-mn-debt\/\"},\"wordCount\":184,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/05\/02\/shuaa-capital-settles-aed-500-mn-debt\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/568.jpg?fit=%2C&ssl=1\",\"keywords\":[\"debt\",\"DEBT WATCH\",\"EnterpriseAM UAE\",\"Shuaa Capital\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/05\/02\/shuaa-capital-settles-aed-500-mn-debt\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/05\/02\/shuaa-capital-settles-aed-500-mn-debt\/\",\"name\":\"Shuaa Capital settles AED 500 mn debt - 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