NO. 23


Financial and Banking News

Regional Financing

Investcorp Arranges $300mn Injection for Saks Fifth Avenue

Saks Fifth Avenue, the flagship US department store which was bought in 1990by a group of investors represented by Bahrain-based Investcorp, is to raise$300mn in new equity. The issue is being arranged by Investcorp and will permitthe reclassification of bank loans to Saks as "non highly leveragedtransactions". The capital injection coincides with the appointment of...