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FINANCIAL NEWS
Bahraini Alba issues loan facility of USD1.5bn
09 Sep 2016
(MENAFN) Aluminium Bahrain (Alba) proclaimed that it secured a commercial loan facility of USD1.5bn to finance line 6 expansion project.
Moreover, the firm planned to raise between USD500mn to USD750mn, but increased the loan facility size to USD1.5bn due to heavy oversubsription.
The USD1.5bn loan will carry an interest margin of 325 basis point per annum over the London Interbank Offered Rate (LIBOR).
On the other hand, the facility is predicted to have a 7-year tenor and the principal amount repayable in eight sem-annual instalments.
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