Mango’s partner in the Gulf secures 215 million loan refinancing

Bahrain's Jawad Business Group, the franchise operator of clothing brand Mango in the Gulf, has raised a 235 million dollars loan to refinance existing debt.

According to two banking sources aware of the matter said that Reuters quoted, Jawad has borrowed 215 million dollars through a term loan in an amortising structure which will last for between five and six years, and the rest through a revolving facility, the sources said, speaking on condition of anonymity as the information isn't public.

Same sources further explained that banks funding the deal had the option to contribute in either Bahraini dinars or dollars.

Mashreq was global coordinator and First Gulf Bank and Ahli United Bank were the bookrunners for the loan, they said.