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Bahrain’s Mumtalakat Has no Plans to Sell New Debt, Alayam Says

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July 22 (Bloomberg) -- Bahrain Mumtalakat Holding Co. BSC, the Island-Kingdom’s sovereign wealth fund, doesn’t plan to sell new debt at the moment, Alayam reported, citing chief executive officer Mahmood Al Kooheji.

The fund, which manages $8.8 billion in assets, will seek to extend the repayment period on existing debt and focus on reducing debt levels, Al Kooheji told the Bahraini newspaper.

The company raised $750 million from the sale of bonds in 2010. The yield on the 5 percent notes maturing June 2015 has fallen 97 basis points this year to 4.77 percent on July 20, according to data compiled by Bloomberg.

To contact the reporter on this story: Wael Mahdi in Manama at wmahdi@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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