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FINANCIAL NEWS
Majid Al Futtaim obtains USD1bn revolving loan
14 Mar 2017
(MENAFN) Dubai’s Majid Al Futtaim, an owner of shopping centers in the MENA region, has obtained an USD1bn equivalent loan.
Moreover, the loan, which was coordinated by the firm, is a revolving credit facility with a five-year tenor and covers banks’ commitments in U.S. dollar and UAE dirhams.
Meanwhile, Union National Bank was the facility agent for the transaction, while the firm had been in talks with banks for the revolving loan.
In June 2016, it raised an USD500mn revolver with a five-year tenor led by BNP Paribas, whereas order books for the notes were in excess of USD1.6bn.
MENAFN1403201700450000ID1095312328
MENAFN1403201700450000ID1095312328
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