Dubai Duty Free Plans $750 Mln Loan to Further Fund Airport Growth - WSJ.com

Dubai Duty Free Plans $750 Mln Loan to Further Fund Airport Growth - WSJ.com:

"Dubai Duty Free is planning to borrow $750 million from a syndicate of international banks in the coming weeks to help further finance the expansion of Dubai's international airport, the company's executive vice chairman Colm McLoughlin said.

DDF, which operates all of the retail outlets at Dubai's airports, raised its first international financing last year, a $1.75 billion, six-year syndicated loan with tranches in dollars and U.A.E. dirhams. The new $750 million loan will be priced at 2.25% above Libor and will be denominated in dollars, Mr. McLoughlin said on Tuesday."

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