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FINANCIAL NEWS
Dubai to confirm USD3bn loan for airport expansion
06 Feb 2017
(MENAFN) Dubai confirmed USD3bn loan with banks in order to fund the expansion of Dubai World Central airport and logistics hub, to host the World Expo in 2020.
Furthermore, the loan, which involves USD2bn conventional tranche and USD1bn Islamic portion, is being raised by a purpose firm to pay for the expansion of DWC.
Meanwhile, banks had been seeking higher pricing on the loan and wanted the government to pay a margin of as much as 220 basis points.
Dubai Intl’ Airport is the globe’s busiest by global passengers as the city developed into a hub for trans-continental traffic between America and Europe with Asia.
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MENAFN0602201700450000ID1095238603
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