GFH set for extension and rights issue

Bahrain’s Gulf Finance House will shortly agree with its lenders to extend a $100m syndicated loan due in August for at least two years, chief executive Ted Pretty told EuroWeek this week. The debt was part of a $300m facility due in February that GFH was forced partially to extend for six months. Pretty also said that GFH — which raised $300m of equity as recently as October — might launch another rights issue later this year or in early 2011. Read the full interview in EuroWeek on Friday.