Friday 22 May 2015
 
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debt

Taqa to raise $3.5bn five-year loan

Abu Dhabi National Energy Co (Taqa) is looking to raise a $3.5 billion loan as it seeks to consolidate a number of existing debts into one facility with a lower rate of interest, three sources aware of the matter told Reuters on Thursday.

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Bahraini MPs blamed for increasing debts

Bahrain’s MPs have been accused of adding to the kingdom’s delicate financial position by insisting on increased spending in previous years. Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa made the comment as he

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ASAR takes part in debt capital market forum in Bahrain

ASAR - Al Ruwayeh and Partners, a leading Bahrain corporate law firm, took part in a debt capital market forum recently organised by the Gulf Bond and Sukuk Association. The forum, titled ‘Debt Capital Market Opportunities f

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Saudi's Algosaibi to put new debt proposal to creditors

Saudi Arabia's Ahmad Hamad Algosaibi and Brothers (AHAB) said on Tuesday it will put an improved offer to its creditors in the coming weeks in a fresh attempt to reach a settlement. The family conglomerate collapsed in 2009 al

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Oman electricity co to meet investors for potential debut dollar bond issue

State-owned Oman Electricity Transmission Co (OETC) plans to meet fixed income investors for a potential debut US dollar bond issue, a document from lead arrangers showed.   The firm, which develops, operates and

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Sailors stuck on tanker after firm runs up a $300,000 debt

A group of sailors has been stranded aboard an oil tanker for months in Bahrain after the shipping company they work for racked up more than $300,000 in debt. Mongolian vessel MT Surya Kuber has been banned from leaving the countr

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Kuwait's Kufpec says it has raised additional $1.5 billion loan

Kuwait Foreign Petroleum Exploration Company (Kufpec), a wholly-owned subsidiary of Kuwait Petroleum Corp, said it had received an additional $1.5 billion loan, raising a previous debt it took last November to $2.5 billion.  

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Foreign energy firms owed $3.3bn by Egypt

Egypt owes foreign energy firms $3.285 billion having paid them $9.369 billion in arrears in the nine months to March 31, an oil ministry spokesman told Reuters.   The ministry told Reuters last

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Mumtalakat allocates profits to pay off $1.4bn debt

Bahrain Mumtalakat Holding Company has allocated part of its profits to pay off debts which reached BD560 million ($1.4 billion) until December last year, it said in a statement. In reply to MPs, the company said no funds have bee

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Bahraini MPs veto move to raise debt ceiling

Bahrain’s national accounts hang in the balance after parliament yesterday (March 24) voted overwhelmingly to veto a decision to raise the country's debt ceiling - four months after it was taken. Thirty MPs, including pa

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