DUBAI, Sept 2 (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.
One of the smaller sovereign wealth funds in the Gulf region, Mumtalakat had $7.1 billion of assets under management at the end of September. It holds stakes in 40 firms in the kingdom's non-oil sector, including Bahrain Telecommunications Co BTEL.BH (Batelco) and Aluminium Bahrain ALBH.BH (Alba).
(Reporting by David French; Editing by Jane Merriman)
((firstname.lastname@example.org)(+971 4 362 5864)(Reuters Messaging: email@example.com)) Keywords: BAHRAIN MUMTALAKAT
(C) Reuters 2012. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing, or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.