Alba shaves down margin in refi

By Mariam Meskin
03 Dec 2019

Aluminium Bahrain (Alba) has refinanced an existing $1.5bn loan with tighter margins. The deal is one of just a few raised in Bahrain this year, which has seen the number of syndicated loan deals drop almost 50%.

The senior unsecured $1.5bn facility has a tenor of eight years. The new margin is 300bp over Libor, which is 25bp tighter than the original loan.

The dual tranche facility consists of a $590.3m conventional loan and a $909.7m Shariah-compliant loan. Coordinators and underwriters were Bank ABC, Gulf International ...

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