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Mon 23 Aug 2010 08:27 PM

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Bahrain Financial Harbour gets $240m Islamic financing

Company will use the financing to repay a $134m sukuk and other obligations.

Bahrain Financial Harbour gets $240m Islamic financing
REPAY DEBT: Bahrain Financial Harbour said that it had received a $240m Islamic facility to help repay debt. (Getty Images)

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.

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