Mubadala Unit Took $315 Million Credit Hit on Loans to Signa

A unit of Abu Dhabi’s Mubadala Investment Co. said it anticipated a roughly $315 million credit hit related to loans issued to the now-insolvent Signa real estate conglomerate.

The writedowns were disclosed by Mamoura Diversified Global Holding, which issues debt on behalf of the wealth fund. The publication offers fresh insight into the size of Mubadala’s investments with the Austrian group, which filed for insolvency at the end of last year.

For its total loan investments in Signa Prime and Signa Development, Mamoura recognized expected credit losses of 1.16 billion dirhams ($315 million), according to an annual report published Friday. ...