Bahrain International Bank Closes $92m Loan Facility

Published November 21st, 2000 - 03:00 GMT

Bahrain International Bank (BIB) has closed a $92.5 million term loan facility with a leading group of international banks, Khaleej Times reported Tuesday.

Despite difficult conditions in the global capital markets, the original facility of $80 million was oversubscribed as a result of firm demand from European and Middle East financial institutions, the paper said.

The paper quoted an official press release as saying that "this is BIB's fifth term facility in the Euroloan market since 1995."

The new financing is aimed at lengthening the maturity profile of BIB's liability structure -- Albawaba.com