To support its lending activities to individuals and small and medium-sized businesses (SMEs), Deem financing, a consumer financing company based in the United Arab Emirates, has teamed with JP Morgan in an asset-backed securitization (ABS).
Through a senior revolving facility, JP Morgan will provide up to $400 million (Dh1.46 billion), supported by a diverse pool of receivables from various asset classes that Deem started, a Gargash Group firm. As Deem’s financial advisor, Daman Investments was crucial to the planning and implementing the company’s first ABS facility.
Daman offered to advise support in the areas of structuring, collateral analysis, cash flow modelling, regulatory issues, legal documentation, and operational implementation by utilizing its knowledge of structured finance.
We are facilitating Deem’s growth and improving consumer and small business loan availability by utilizing our experience and collaborating with JP Morgan. Shehab Gargash, chairman of Deem Finance, added, “We also want to express our profound gratitude to the UAE Central Bank for its consistent support and regulatory guidance, which has been crucial in promoting an innovative yet strong and resilient financial ecosystem. Ahmed Khizer Khan, CEO of Daman Investments, stated, “This transaction demonstrates the strength of collaboration between local expertise and global economic leadership.
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