(MENAFN) Bahrain Commercial Facilities Company (BCFC) was announced to have secured a five-year syndicated loan agreement valued at USD125 million.
Gulf International Bank (GIB) organized the loan facility alongside Ahli United Bank and National Bank of Bahrain (NBB).
Using the amount, a USD50 million syndicated loan and USD53 million bonds will be repaid on their maturities.
Meanwhile rest of the amount, USD22 million, is set to be utilized for BCFC plans to achieve general business expansion.
CEO of BCFC Dr Adel Hubail stated: "our growth strategy has always been balanced with prudent risk management practices. The new finance facility enhances the Company's long-term liquidity and reinforce its staggered maturity profile."
MENAFN0807201900450000ID1098735123
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.