Dubai Holding LLC, a conglomerate owned by the emirate's ruler, has reached an agreement with lenders to extend a $1.16 billion syndicated loan due August 18, the company said on Wednesday.
'We already have full lender support to extend this loan until December 2016 and are currently in the documentation process', a Dubai Holding spokeswoman said in an email to Reuters.
The loan includes an $840 million conventional tranche and a $300m sharia-compliant tranche and was originally due to mature next week, Thomson Reuters data showed.
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