Bahrain Mumtalakat Holding Company has signed an agreement on a five-year loan with both Bahraini and international banks.

The CEO of Bahrain’s investment fund Mumtalakat, Mahmood Hashim Al Kooheji, has signed the $500 million agreement with representatives from global banks including BNP Paribas, Deutsche Bank, Standard Chartered Bank (Dubai International Financial Center Branch), and Bank of Tokyo-Mitsubishi UFJ ltd, as well as the Arab Banking Corporation and the National Bank of Bahrain.

It is worth noting that the loan was structured as a 5-year Revolving Credit Facility, and it will be utilized to refinance existing debt.

Photo Credit: Arabianeye-Reuters