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FINANCIAL NEWS
Alba seeks credit rating before USD3.5b project fundraising
27 Aug 2015
(MENAFN) Aluminum Bahrain (Alba) is seeking a credit rating ahead of talks with banks about fundraising for its USD3.5 billion Line 6 expansion, according to a company’s official.
The firm in June secured government approval for a larger-than-planned expansion of its proposed sixth facility in which aluminum is made, which would boost annual output to 1.45 million tons.
The company was considering a range of options to fund the scheme, including loans, export credit agency finance and a capital markets transaction, said three banking sources.
“We will be looking at the funding mix in conversations with our financial advisers, but no decisions have yet been made on how this important project for Alba and Bahrain will be financed,” the official said.
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