Sunday 30 December 2012

Bahrain Alba gets loans to pay off $169m bond maturing in 2013 | Reuters

Aluminium Bahrain, or Alba, which owns the world's fourth-largest aluminium smelter, said on Sunday it received two loans from banks to refinance a $169 million bond maturing in March 2013.

Alba, 69 percent owned by Bahraini sovereign wealth fund Mumtalakat and 20 percent by the Saudi government, said it obtained a five-year $85 million loan from Abu Dhabi's First Gulf Bank, according to a statement on the Bahrain bourse.

The company also received a three-year $84 million loan from a group of banks including Ahli United Bank, National Bank of Bahrain, Bank of Tokyo-Mitsubishi UFJ Ltd , Bank of Bahrain and Kuwait and Arab Banking Corporation.

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