Abu Dhabi’s TDIC Said to Raise $500 Million Loan to Pay Debt - Bloomberg

Abu Dhabi’s TDIC Said to Raise $500 Million Loan to Pay Debt - Bloomberg:

"Tourism Development & Investment Co., the Abu Dhabi-owned developer of the Louvre and Guggenheim museums, raised a $500 million loan to pay existing debt, according to three bankers with knowledge of the deal.

The five-year facility was obtained from a group of seven banks and pays 1.5 percentage points including fees more than the London Interbank Offered Rate, said the bankers, asking not to be identified because the information is private. The money will help pay a three-year $600 million loan that carries a margin of 1.35 percentage points above Libor, the bankers said.

A spokeswoman for TDIC, who asked not to be identified because of corporate policy, said the company couldn’t comment."

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