Sunday 23 December 2012

Dubai's du secures $500 mln club facility to fund business | Reuters

Dubai's Emirates Integrated Telecommunications Co, or du, said on Sunday that it had secured a $500 million, five-year club debt facility to fund its medium-term capital expenditure.

Abu Dhabi Commercial Bank acted as senior mandated lead arranger for the facility, with National Bank of Abu Dhabi and Samba Financial Group serving as mandated lead arrangers, the company said in a Dubai bourse filing. Mashreq Bank acted as co-arranger.

Du said the club debt facility was priced at a 1.75 percent margin over the London Interbank Offered Rate.

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