The firm has hired the banks to coordinate the refinancing of a $400 million revolving credit facility it raised in 2016 which is due next year.
Monday 20, May 2019 BY KUDAKWASHE MUZORIWA
Bahrain’s alternative investment manager, Investcorp has hired Citi and JPMorgan to coordinate the refinancing of a $400 million loan, reported Reuters.
The refinancing comes amid a slowdown in the Middle East loan market, as borrowers have increasingly turned to the bond market to diversify their funding as well as to take advantage of favourable conditions across emerging markets.
Additionally, the new revolving loan, with a maturity of four years renewable by one year, is also being syndicated to other banks.