Ahli United Bank, Bahrain's largest bank, said on Sunday it will raise $125 million by issuing 500 million preferential shares to the International Financing Corporation (IFC).
IFC, a unit of the World Bank, can convert the shares into ordinary shares over the next four years, AUB said in a statement to Bahrain's stock exchange.
The preferential share issue is to boost the bank's tier 2 capital, a measure of a bank's financial strength. AUB also said it would also borrow a subordinated loan worth $165 million from IFC.
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