Gulf SWFs To Borrow For Further Expansion

Bahraini investment agencies Mumtalakat Holdings and Investment Corporation Dubai (ICD) are set to take the next step in the metamorphosis of sovereign wealth funds, with both now turning to debt in order to continue expansion. ICD has started syndication of a US$6bn load aimed at further expansion abroad, while Mumtalakat Holdings, Bahrain's US$10bn investment agency, confirmed that it is seeking US$500mn to finance overseas acquisitions.

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