DUBAI, Sept 2 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
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)
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Keywords: BAHRAIN MUMTALAKAT
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