Mumtalakat has no plans to issue bonds in 2014

March 19, 2014 11:01 am

The chief executive of Mumtalakat, Mahmood Al-Kooheji has said there are no current plans to tap the debt capital markets in 2014 and said the Bahraini sovereign fund will pay off a small loan facility due later in the year, Reuters has reported. Mumtalakat, which had $7.1bn of assets under management at the end of September, holds stakes in 40 firms in the kingdom’s non-oil sector, including Batelco and Aluminium Bahrain (Alba). Mumtalakat’s next significant debt maturity is not until June 2015, when a $750m bond comes due, Kooheji said.