Investcorp Bank BSC, a Bahrain-based private-equity firm, got a forward-start loan of about $500 million, Alwasat reported, citing unidentified people in banking.
The loan, which was provided by 12 international banks, will replace facilities due to mature next March, the newspaper said. Barclays Plc, Citigroup Inc., Deutsche Bank AG and Royal Bank of Scotland Group Plc arranged the transaction, and Bank of America Corp., Commerzbank AG, ING Groep NV and JPMorgan Chase & Co. are also lenders, the newspaper said.
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