Bahrain’s Arcapita Raises $100 Million After Exiting Chapter 11 - Bloomberg

Bahrain’s Arcapita Raises $100 Million After Exiting Chapter 11 - Bloomberg:



"Bahrain’s Arcapita Bank BSC has raised $100 million from shareholders to fund a return to dealmaking a year after it emerged from bankruptcy.



The new equity will be used to fund Shariah compliant private equity and real-estate investments in Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Oman and Kuwait, the bank said today in a statement. Arcapita will also look at U.S., Asian and European investments at a later stage, it said.



Arcapita emerged from bankruptcy in September 2013 after securing a $350 million loan from Goldman Sachs Group Inc. (GS) The bank filed for bankruptcy in March 2012 after negotiations with creditors over a $1.1 billion syndicated loan failed. Under the terms of its debt restructuring, a new company called RA Holding Corp. was created to manage Arcapita’s $3 billion of assets. Arcapita earned $10.1 million in the fiscal year ended June, mostly from fees for managing RA on behalf of creditors."



'via Blog this'