Dubai resort Atlantis signs increased $1.1 bln loan deal | Reuters:
"Dubai's Atlantis, a luxury hotel situated at the top of a palm-shaped manmade island, refinanced an $880 million loan to take advantage of favourable market conditions and secure a better interest rate, the company confirmed to Reuters on Thursday.
As well as reducing the borrowing cost, the loan was also increased in size to $1.1 billion, according to banking sources.
The facility is the latest example of state-linked entities in the emirate using improved market sentiment towards Dubai and the high amount of cash in the local banking system to lower their borrowing costs, often on loans which still had much of their existing lifespan remaining."
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