Wednesday 21 April 2010
Dubai World Unit Said to Arrange Loans for Inchcape Acquisition
Dubai World’s investment unit Istithmar World PJSC is arranging as much as $350 million of loans to attract bidders to its Inchcape Shipping Services, two people familiar with the matter said.
The so-called staple financing will be available for any bidder for Inchcape Shipping and comprises senior leveraged loans and junior debt due in about six and eight years, said the people, who declined to be identified because the information is private.
Bank of America Merrill Lynch and Royal Bank of Scotland Group Plc are arranging the financing, the people said.
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