Browse
related articles
Arcapita secures Islamic bankruptcy loan
- Bahrain: Thursday, November 08 - 2012 at 11:31
Bahrain-based investment bank Arcapita has secured a court approval for a $125m bankruptcy loan from Fortress Investment Group, believed to be the first such Shari'ah-compliant loan, Reuters has reported. Approved by a US Bankruptcy Court in New York, the loan will fund Arcapita as it seeks to restructure debt after filing for bankruptcy in March. The Fortress agreement, which can be increased to the same $150m, lowers commitment fees, allows Arcapita to shop for better terms from other lenders, and limits the circumstances under which Fortress can terminate the loan.
Related Content
Article Options
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
