ENERGY

Bahrain’s Bapco completes multi-billion-dollar financing

A fuel storage tank of state-run Bapco is seen south of Manama. (File photo: Reuters)

State-run Bahrain Petroleum Co (Bapco) said on Sunday it had completed a multi-billion-dollar financing aimed at expanding its refining capacity to 380,000 barrels per day from 267,000 barrels.

Bapco did not disclose the size of the financing, but sources previously told Reuters it was over $4 billion.

Five export credit agencies and a syndicate of 21 commercial banks took part in the financing, Bapco said, with BNP Paribas, HSBC Middle East and Verus Partners advising the firm on the deal.

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Last Update: Monday, 20 May 2019 KSA 23:02 - GMT 20:02
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