Bahrain’s GFH Financial solicits consents for certificates due 2025

Chicago, May 19 – GFH Financial Group BSC announced a consent solicitation for its $500 million certificates due 2025 (ISIN: XS2100582142) that list GFH Sukuk Co. Ltd. as issuer.

An extraordinary resolution that would change the terms and conditions of the certificates is aimed at modifying the share buyback covenant, loosening the negative pledge covenant to give the obligor more flexibility to secure debt for business activities and limiting the definition of permitted security interest.

Consenting holders who deliver a consent instruction in favor to the tabulation agent by the consent deadline will receive a consent fee of 0.2% of the face amount of certificates if the extraordinary resolution is passed.

The deadline for the consent fee is 11 a.m. ET on June 2.

The final deadline to deliver valid consent instructions is 7 a.m. ET on June 10.

The meeting will be held at 7 a.m. ET on June 13 via teleconference.

Payment of the consent fee will be made no later than the third business day after the meeting if the extraordinary resolution passes.

Kroll Issuer Services Ltd. is the tabulation agent (+44 20 7704 0880, gfh@is.kroll.com, https://deals.is.kroll.com/gfh).

The investment bank is based in Bahrain Financial Harbour, Bahrain.

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