Bahrain’s Gulf Finance House tightens margins with another three year deferral
Bahrain’s Gulf Finance House (GFH) secured another payment deferral and a reduction in the price of a $100m extended loan facility after the final three lending banks were persuaded to commit to the amendment.
The loan was provided by a large syndicate of 32 banks led by WestLB. Three of the banks were initially unwilling to extend the tenor of the loan but agreed to the arrangement to avoid the problems that a default would present.
The two year extension with an additional
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