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FINANCIAL NEWS
Bahrain’s Alba secures USD169m loan
06 Jan 2013
(MENAFN) Aluminum Bahrain (Alba) has secured two loans to help refinance a USD169 million bond due in March 2013, Reuters reported.
The company said it received a five-year USD85 million loan from a local lender and a three-year USD84 million loan from a group of international creditors.
Alba is planning a USD2.5 billion expansion to add a sixth production line, which will add an annual 400,000 tonnes of output capacity.
Alba is 69 percent owned by Bahraini sovereign wealth fund Mumtalakat and 20 percent by the Saudi government, and owns the world’s fourth largest smelter.
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