Mumtalakat Holdings Gets $500 Million Revolving Credit Facility
Bahrain’s Mumtalakat Holdings agreed to a US$ 500 million, 5-year revolving credit facility from a number of banks. The deal was signed before the new year.
The banks involved in the credit facility are: Bank of Tokyo-Mitsubishi, BNP Paribas, Standard Chartered, Deutsche Bank, Arab Banking Corporation and National Bank of Bahrain. The money will be used for general purposes and to refinance existing debt.
According to local filings, Mumtalakat controls 49% of the National Bank of Bahrain.
In November, Mumtalakat raised a US$ 600 million dollar-denominated sukuk.
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