Bahraini banks dominate refinancing for aluminium smelter’s bond maturing in March 2013
Aluminium Bahrain (Alba) has secured a $169m loan that will be used to refinance a bond maturing in March 2013.
The new deal is split between an $85m five-year loan from Bahrain-based Gulf International Bank, and an $84m three-year loan from the local Ahli United Bank, National Bank of Bahrain, Arab Banking Corporation, and Bank of Bahrain and Kuwait, as well as Japan’s Bank of Tokyo-Mitsubishi.
Alba, one of the top 10 largest aluminium smelters in the world, began approaching banks for the refinancing in September.
In November 2010, the company listed on the Bahrain Bourse and the London Stock Exchange. Profit in the second quarter of 2012 fell to BD35.6m from BD69.7m in the same period of 2011
You might also like...
European finance in place for Tunisia Bizerte bridge
29 March 2024
HZI takes on Dhafra waste energy EPC contract
29 March 2024
Policy designates Masdar, Adnoc as hydrogen coinvestors
29 March 2024
Waste energy projects find relevance
29 March 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.