Bahrain's Investcorp to accept $500 million commitments for tier I capital raise

By Aaron Hochman-Zimmerman

New York, Aug. 3 - Investcorp Bank BSC announced that it will accept $500 million in investor commitments for its planned tier I preference share capital raise, according to a press release.

The goal for the cash raise was only $250 million, but all of the offers from retail institutional investors will be accepted.

Proceeds will be used to improve the firm's capital position and to help meet its deleveraging goals.

More details regarding the capital raise will be made available in "mid-August," according to the company's web site.

Investcorp is a Manama, Bahrain-based alternative investment management firm.

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