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FINANCIAL NEWS
Dubai Duty Free plans to raise USD1.1b loan facility
10 Apr 2012
(MENAFN) Dubai Duty Free (DDF) said that it plans to raise USD1.1 billion in order to finance the expansion of Dubai’s international airport, reported Emirates 24/7.
The company added that the multi-tranche loan facility would include Islamic and conventional tranches.
It also said that syndication was initiated on April 5 and banks have been invited to commit in US dollars and UAE dirhams.
It is worth noting that Citibank, Dubai Islamic, HSBC and Emirates NBD have been hired to organize and coordinate the debut international transaction, according to DDF.
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