Bahrain's sovereign wealth fund Mumtalakat has signed a $500 million credit facility with a total of six banks.

The participating banks are BNP Paribas, Deutsche Bank Luxembourg, Standard Chartered Bank's Dubai International Financial Centre Branch, the Bank of Tokyo-Mitsubishi UFJ, Arab Banking Corporation and National Bank of Bahrain. BNP Paribas also acted as co-ordinating bank, documentation and facility agent for the loan, said a report in the Gulf Daily News (GDN), our sister publication.

The loan has been structured as a five-year revolving credit facility and will be utilised to refinance existing debt. - TradeArabia News Service