Airport retailer Dubai Duty Free has increased the size of a multi-tranche loan facility it is currently raising to $1.5 billion, driven by high interest from local and international lenders, a senior Dubai government official said on Monday.
"We are raising $1.5 billion and we are getting almost close to double that in terms of interest but hasn't been concluded yet," Mohammed Al Shaibani, the chief executive officer of Investment Corporation of Dubai, told Reuters in an interview. "There is an opportunity and commercial banks know exactly what to go for," added Shaibani, who also head the Dubai ruler's court.
Dubai Duty Free had said in April it mandated banks for a $1.1 billion financing facility to help fund an expansion at Dubai's international airport. The facility includes Islamic and conventional tranches.
No comments:
Post a Comment