Tecom Investments completes $1.1b loan upsizing | GulfNews.com

Tecom Investments completes $1.1b loan upsizing | GulfNews.com:



"Tecom Investments has closed a Dh4 billion ($1.1 billion) loan after exercising an option to increase the size of an existing facility completed earlier this year, the business park operator and one of the key assets of Dubai Holding said.



In January, the company said it had raised Dh3.53 billion through a loan which also had a tranche which allowed Islamic banks to participate. It had an option to raise the loan amount and a marketing period to attract other banks would be completed by the end of March.



Tecom confirmed in a statement to Reuters on Tuesday that it had completed the upsizing option and closed the transaction at Dh4 billion. It did not elaborate further."



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