Dubai’s GEMS Education planning over $1 bln loan ahead of IPO -sources:
"GEMS Education, an international education firm headquartered in Dubai, plans to raise a loan of over $1 billion to refinance some existing debt before a planned initial public offer of shares in London, sources familiar with the matter said. The company, backed by Dubai-based Fajr Capital, Bahraini state investment fund Mumtalakat and private equity giant Blackstone, is expected to issue a request for proposals to banks by the end of this month, said one of the sources, adding that the loan could go up to $1.2 billion in size. A spokesman for GEMS declined to comment."
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