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 firstname.lastname@example.org