Dolphin Energy's Dh12.6bn debt refinancing close to finalisation

The refinancing of Dolphin Energy's $3.45 billion (Dh12.6bn) loan that matures in July is now in its "final documentation" stage, a source close to the deal told Emirates Business.

Greg Fewer, Assistant Director and Advisor, Project & Corporate Finance Unit at Mubadala – which owns 51 per cent of Dolphin – said the commitments are all in and Dolphin Energy, an Abu Dhabi based-energy company, is currently ironing out the final details.

Fewer, who declined to give specific details, said the company is "not worried" about re-financing the debt, which was financed in 2005 through a $2.45bn conventional facility and a $1bn Islamic loan.