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Bahrain’s Nogaholding signs for a US$570 million loan

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LNG Industry,

According to Reuters, Bahrain’s Nogaholding has signed for a five-year, US$570 million murabaha financing facility. This is 60% greater than the company originally planned. The money will help Nogaholding invest in a variety of energy projects in the country, including the Bahrain gas plant project and the BAPCO modernisation programme. In addition to this, Nogaholding will be able to use the money to invest an LNG import terminal.

Reuters reports that the money will be sourced from 10 institutions (local, international and regional). These include HSBC, BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Kuwait Finance House, Qatar Islamic Bank, National Bank of Bahrain, Gulf International Bank, Arab Petroleum Investments Cop., Ahli United Bank and Arab Banking Corp.

Edited from various sources by David Rowlands

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