Deem financing, a consumer financing company based in the United Arab Emirates, has collaborated with JP Morgan in an asset-backed securitization (ABS) to support its lending activities to small and medium-sized businesses (SMEs) and consumers.
With a senior revolving facility supported by a diverse pool of receivables originated by Deem, a Gargash Group entity, across many asset classes, JP Morgan will provide up to $400 million (Dh1.46 billion). Daman Investments served as Deem’s financial advisor and was instrumental in planning and implementing its first ABS facility.
Daman used its knowledge of structured finance to offer advisory assistance in cash flow modelling, regulatory issues, legal documents, structuring, collateral analysis, and operational implementation.
By utilizing our experience and collaborating with JP Morgan, we facilitate Deem’s growth and improve consumer and small business loan availability. Additionally, we would like to express our profound gratitude to the UAE Central Bank for its consistent support and regulatory direction, which have been crucial in creating a financial environment that is both inventive and resilient,” said Shehab Gargash, chairman of Deem Finance. This deal demonstrates how well local knowledge and international economic leadership can work together,” stated Ahmed Khizer Khan, CEO of Daman Investments.
Also Read:
Trump and Modi Discuss Trade and Immigration; Modi to Visit America in February
Top Japanese TV Executives Depart after Misconduct Charges against a Celebrity Presenter
