VOL. XLI

No. 29

20-July-1998

BAHRAIN

BMB Considers A Syndicated Facility

Sources in Bahrain have confirmed that Bahrain Middle East Bank (BMB), one of thesmaller offshore banks domiciled on the island, may shelve plans to issue a $100mn,five-year bond and opt for a five-year syndicated loan instead. After announcing planslast October to approach the bond market to finance the bank's long-term investmentprojects (MEES, 13 October 1997), MEES was told that BMB "no longerfeels that the market...