Friday SWFI News Roundup, January 16, 2015

Mumtalakat Holdings Signs $500 Million Loan

Mahmood Hashim Al Kooheji, CEO of Bahrain’s Mumtalakat Holdings, was present at the signing of a US$ 500 million five-year loan. This occurred on January 14th, 2015. The loan has been structured as a 5-year revolving credit facility. The facility will be used to refinance existing debt. Some of the financial institutions included in the loan deal are: BNP Paribas, Deutsche Bank, Standard Chartered and Bank of Tokyo Mitsubishi UFJ Ltd.

NO CAP: SNB Shocker

Swiss National Bank (SNB) has ditched its currency cap against the euro. The SNB also slashed interest rates to -0.75%. On Thursday, the Swiss franc appreciated, while the Swiss stock market fell. Social media called the move, Francogeddon. Thomas Jordan, chairman of SNB, mentioned that the cap was removed because it was unsustainable.

Nasdaq Buys Smart Beta and Index Provider

Nasdaq OMX Group Inc. has agreed to purchase Dorsey, Wright & Associates LLC for US$ 225 million. Dorsey, Wright & Associates LLC is an index provider and analytics company. Nasdaq is trying to expand and increase exposure in the world of exchange-traded funds (ETF) and smart beta. Nasdaq is funding the deal with a mixture of cash and debt.

ADIA and Runwal Group in Discussions

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