Carrefour operator Majid Al Futtaim raising $1.5bn credit line - The National

Carrefour operator Majid Al Futtaim raising $1.5bn credit line - The National:

"Majid Al Futtaim Holding, the operator of Carrefour stores in the Middle East, is raising more than US$1.5 billion from a revolving credit facility to replace a loan, according to a banker familiar with the plan.

The Dubai-based company, which postponed the sale of perpetual bonds in June, is raising the five-year loan in dollars and dirhams, said the banker, who asked not to be identified because the information is not public yet. The debt is priced at around 200 basis points, or 2 percentage points, above the London interbank offered rate with about 15 banks expected to participate, the banker said.

A spokesman for Majid Al Futtaim Holding, who asked not to be identified because of company policy, declined to comment."

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