Majid Al Futtaim said to raise US$1.5 billion loan - Business Intelligence Middle East - bi-me.com - News, analysis, reports:
"Majid Al Futtaim Holding LLC, the operator of Carrefour SA (CA) stores in the Middle East, is raising more than US$1.5 billion from a revolving credit facility to replace a loan, according to a banker familiar with the plan.
The Dubai-based company, which postponed the sale of perpetual bonds in June, is raising the five-year loan in dollars and dirhams, said the banker, who asked not to be identified because the information isn’t public yet.
The debt is priced at around 200 basis points, or 2 percentage points, above the London interbank offered rate and the unused portion will also carry a commitment fee, the banker said. About 15 banks expected to participate in the loan, he said."
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