Bahrain sovereign fund Mumtalakat signs $250 mln loan refinancing | Reuters

Bahrain sovereign fund Mumtalakat signs $250 mln loan refinancing | Reuters:

"Bahrain sovereign fund Mumtalakat [BHMUT.UL] said on Monday it had signed a $250 million loan to help refinance part of a larger five-year facility.

The revolving credit facility covers about half of a $500 million five-year loan which the fund had signed in August 2008. The other half had been partly repaid and partly refinanced over the past two years, the fund said in a statement.

The loan forms part of Mumtalakat's overall financing and funding strategy, Mahmood Al Kooheji, CEO of Mumtalakat, said in the statement.

Five banks - National Bank of Bahrain NATB.BH, Gulf International Bank [GLFBK.UL], BBK BBKB.BH, Jordan's Arab Bank ARBK.AM and Dubai's Mashreq MASB.DU - provided the new loan. The statement gave no other details about the loan."

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