Dubai Holding unit in talks to raise up to $1.1b loan | GulfNews.com:
"A unit of Dubai Holding, the investment vehicle of the emirate’s ruler, said on Thursday it was in talks with lenders to raise a syndicated loan, with banking sources adding the facility could be worth up to Dh4 billion ($1.1 billion).
Tecom Investments, a business park operator and one of the key assets of Dubai Holding, is expected to use the proceeds for its growth plans, while some of the cash would also be diverted to the parent company, one of the sources said.
Tecom said in a statement to Reuters it was seeking to raise a loan facility and the funds would be used to “support future growth opportunities and other strategic objectives”."
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