Namely, the Dubai-based company has signed a five-year loan facility worth a $3 billion, which replaces the existing $1 billion deal due for maturity in 2018, Reuters cited anonymous sources as saying.
As explained by the sources, the new deal is split between a $2.39 billion conventional loan and a $610 million sharia-compliant tranche.
The deal, initiated in April, comes amid the emirate’s economic recovery that saw banks becoming more inclined to negotiate better terms for borrowing.
We use cookies to improve your experience. By continuing to use our site, you accept our Cookies, Privacy Policy,Terms and Conditions. Close X
