Bahrain Financial Harbour Obtains $240 Million Islamic Loan to Repay Debt

Bahrain Financial Harbour, which houses banks and financial institutions, received a 90.5 million-dinar ($240 million) Islamic facility to repay debt.

Al Salam Bank, BBK, Kuwait Finance House, National Bank of Bahrain, and Bahrain Islamic Bank helped arrange the seven-year Ijara facility, according to a joint statement issued by Bahrain Financial and the banks today.

Bahrain Financial used the financing to repay a $134 million sukuk, according to the statement. The balance will be used to settle other obligations and for expansion, it said.

To contact the reporter on this story: Dana El Baltaji in Dubai at delbaltaji@bloomberg.net

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