Bahrain’s Mumtalakat Talks To Banks On $400 Million-$500 Million Loan -Sources

10. Feb, 2010

mumtalakat Bahrains Mumtalakat Talks To Banks On $400 Million $500 Million Loan Sources

Nasdaq reports that, “Bahrain sovereign wealth fund Mumtalakat Holding Co. is talking to banks about a new $400 million-$500 million loan facility, people familiar with the situation said Tuesday. This is not a refinancing but new money for Mumtalakat, one of the people said. The deal is out in the loan market alongside a refinancing facility for Abu Dhabi-owned Mubadala Development Co., which is looking to refinance an existing $2 billion loan that matures in early April, as previously reported by Dow Jones. Both deals represent the first loan financings for Gulf-based entities since Dubai requested a standstill on $26 billion worth of Dubai World debt.”