GFH repays $25m to debt holders
Manama, August 7, 2014
Bahrain-based Islamic investment bank, Gulf Finance House (GFH), has repaid $25 million to debt holders marking total debt principal payments of $33 million so far this year.
In a statement to the Bahrain Bourse, the bank said this represents more than 15 per cent of its total outstanding facilities, said a report in the Gulf Daily News (GDN), our sister publication.
The repayments highlight its ongoing commitment to meeting obligations to debt holders in line with the restructuring terms concluded in 2012 and the subsequent business plan, GFH said.
The bank’s outstanding facilities today stand at $169 million, representing a leverage ratio of close to 0.28. - TradeArabia News Service