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Thursday, 17 May 2018

Dubai’s TECOM in talks to refinance, increase $1 bln loan -sources | Reuters

Dubai’s TECOM in talks to refinance, increase $1 bln loan -sources | Reuters:

"TECOM Group, a business park operator owned by Dubai Holding is considering refinancing and increasing the size of a loan of around $1 billion it raised in 2014, banking sources said.

The company borrowed 3.53 billion dirhams ($961 million) at the end of 2014 to back general corporate needs and new development plans.

It is now in talks with banks to refinance that facility and potentially increase it to 6 billion dirhams, as it seeks to take advantage of favourable local loan market conditions."



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