| Bahrain's sovereign wealth fund Mumtalakat plans to finance its projects this year using income from investments and will not seek loans or government assistance, its chief executive said.
"We have no intention of borrowing this year, and are working to reduce the accumulated debt. The company borrowed large amounts up to the end of 2015 to fund its projects," Bahrain Mumtalakat Holding Company CEO Mahmoud Alkooheji said. The company signed a $500 million, five-year revolving credit facility in December 2014. "It (the facility) was fully used in 2015 to refinance outstanding debt," he said without providing further details...............................................Full Article: Source
|