Carrefour Operator Majid Al Futtaim Seeks $1 Billion in Loan for Expansion - Bloomberg

Majid Al Futtaim Holding LLC, the operator of Carrefour SA stores in the United Arab Emirates, is raising $1 billion from three-year and five-year loans to fund expansion, according to two people familiar with the deal.

The three-year revolving credit facility pays a margin of 250 basis points over the benchmark rate, said the people, who declined to be identified before the terms are public. The five-year amortizing loan pays a margin of 275 basis points over the benchmark rate, which rises to about 315 basis points after including fees, the people said. The loans are being raised in both dollars and dirhams.

A spokesman for Dubai-based Majid Al Futtaim declined to comment.

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